Legal Opinion
Veluchamy v. Federal Deposit Insurance
Court of Appeals for the Seventh Circuit
Decided February 4, 2013No. 10-3879PublishedCited by 39 opinions
1Opinion of the Court
WILLIAMS, Circuit Judge.
Plaintiffs, members of the Veluchamy family and the Veluchamy Family Foundation, controlled Mutual Bank. In an effort to save the bank from insolvency and at the request of FDIC-Corporate, they raised about $30 million mostly in the form of note purchases. But after that money was raised in 2008, FDIC-Corporate requested another $70 million to keep the bank open, and Plaintiffs were not able to get that funding. In May and June 2009, regulators issued warnings that the bank would soon go under without more capital. On July 1, 2009, the board of Mutual Bank voted to…
2Cases cited13 opinions
- Bowen v. MassachusettsSupreme Court of the United States · 1988
- Department of the Army v. Blue Fox, Inc.Supreme Court of the United States · 1999
- Sharp Electronics Corp. v. Metropolitan Life InsuranceCourt of Appeals for the Seventh Circuit · 2009
- Minn-Chem, Incorpora v. Agrium IncoCourt of Appeals for the Seventh Circuit · 2012
- Clyde C. Freeman and Nancy F. Freeman v. Federal Deposit Insurance Corporation, as Receiver for Madison National BankCourt of Appeals for the D.C. Circuit · 1995
8 more not listed; retrieve them via the Exa API.
3Cited by39 opinions
- Kennedy v. HuibregtseCourt of Appeals for the Seventh Circuit · 2016
- Bunn v. Fed. Deposit Ins. Corp.Court of Appeals for the Seventh Circuit · 2018
- Harden v. Marion County Sheriff's DepartmentCourt of Appeals for the Seventh Circuit · 2015
- Parameswari Veluchamy v. Bank of America, N.A.Court of Appeals for the Seventh Circuit · 2018
- Miller v. Federal Deposit InsuranceCourt of Appeals for the Seventh Circuit · 2013
34 more not listed; retrieve them via the Exa API.