Resolution Trust Corp. v. Franz

MEMORANDUM OPINION

BRIAN BARNETT DUFF, District Judge.

On February 1, 1990, the Office of Thrift Supervision ordered Clyde Federal Savings and Loan Association (“Clyde”) into receivership and it appointed the Resolution Trust Corporation (“RTC”) as Clyde’s receiver. On April 23, 1993, the RTC sued Lydia Franz and others (“Defendants”) for their alleged conduct as Clyde’s officers and directors. The RTC’s Complaint has four counts: (I) Negligence With Respect to Duties Owed To Clyde; (II) Gross Negligence With Respect To Duties Owed To Clyde; (III) Breach of Fiduciary Duty Owed to Clyde; and…