Federal Deposit Insurance v. Schell

Defendants appeal from a summary judgment for plaintiff Federal Deposit Insurance Corporation (FDIC) in this action on a promissory note. In their first two assignments, defendants challenge the granting of plaintiffs summary judgment motion and the denial of their own “cross-motion.” The issue on which those assignments turn is whether defendants are foreclosed by federal law from asserting affirmative defenses against FDIC which arise out of defendants’ transaction with the defunct bank from which FDIC acquired the note.

FDIC is the receiver under ORS 711.465 for Emerald Empire Banking Co.…