Federal Deposit Insurance v. Weisser

BASKIN, Judge.

We are asked to review the trial court’s order dismissing with prejudice the second amended complaint filed by Federal Deposit Insurance Corporation. The trial court found that FDIC, as liquidator, lacked standing to file an action against appellee for the non-payment of notes and guarantees he executed in favor of Franklin National Bank. We reverse.

When Franklin National Bank failed, FDIC was named receiver and liquidator. FDIC then sued to recover amounts owed to the bank by appellee. Final judgment entered in favor of FDIC was reversed by this court1 because the record lacked…