Federal Land Bank v. Federal Intermediate Credit Bank

MEMORANDUM OPINION AND ORDER

TOM S. LEE, District Judge.

This cause is before the court on objection by the plaintiff, Federal Land Bank of Jackson in Receivership (FLBJR), to a July 20, 1989 memorandum opinion and order of the United States Magistrate. 127 F.R.D. 473. Having considered the memoranda of authorities submitted by the parties, the court concludes that the magistrate’s opinion should be affirmed in part and reversed in part as set forth below.

In May 1988, the Federal Land Bank of Jackson (FLBJ) was placed in receivership, and thereafter, the receiver filed this declaratory judgment…