Jack Abrams v. Federal Deposit Insurance Corporation

BOGGS, Circuit Judge.

In August 1989, Jack Abrams filed suit for conversion in the Kentucky courts against the Federal Deposit Insurance Corporation (“FDIC”) in its corporate capacity. After the suit was removed to federal court, the district court granted summary judgment for the FDIC and Abrams appealed. For the reasons that follow, we affirm the district court’s judgment in part and reverse in part.

I

This suit arose from the failure of the Peoples Bank of Olive Hill in December 1987. The FDIC was appointed receiver for the failed bank, and subsequently sold some of the Bank’s assets to the…