Legal Opinion
Federal Deposit Insurance Corporation, as Receiver for Penn Square Bank, N.A. v. Bank of San Francisco
Court of Appeals for the Ninth Circuit
Decided May 21, 1987No. 86-1948PublishedCited by 33 opinions
1Opinion of the Court
NOONAN, Circuit Judge:
Bank of San Francisco (the Bank) appeals from summary judgment in favor of the Federal Deposit Insurance Corporation (FDIC) on a letter of credit. Jurisdiction exists under 12 U.S.C. § 1819. We affirm.
FACTS
On December 12, 1980 the Bank issued a standby letter of credit in the amount of $50,000. The letter was issued at the request of Arthur J. Shartsis and Mary Jo Shartsis (the Customers). It was issued in favor of Penn Square Bank (Penn Square) and was intended to be security for an investment made by the Customers in Longhorn Developmental Program, Ltd., a partnership…
2Cases cited7 opinions
- D'Oench, Duhme & Co. v. Federal Deposit InsuranceSupreme Court of the United States · 1942
- United States v. Kimbell Foods, Inc.Supreme Court of the United States · 1979
- Clearfield Trust Co. v. United StatesSupreme Court of the United States · 1943
- Federal Deposit Insurance Corporation, Etc., and v. Santino D. Meo, AndCourt of Appeals for the Ninth Circuit · 1974
- Andy Marine, Inc., a California Corporation v. Zidell, Inc., an Oregon Corporation v. The Commercial Bank of Korea, Ltd., a Korean CorporationCourt of Appeals for the Ninth Circuit · 1987
2 more not listed; retrieve them via the Exa API.
3Cited by33 opinions
- Federal Deposit Insurance Corporation, As Receiver v. O'melveny & MeyersCourt of Appeals for the Ninth Circuit · 1992
- Federal Deposit Insurance Corporation v. United Pacific Insurance CompanyCourt of Appeals for the Tenth Circuit · 1994
- 95 Cal. Daily Op. Serv. 5839, 95 Daily Journal D.A.R. 9981 Federal Deposit Insurance Corporation, as Receiver American Diversified Savings Bank Adc Financial Corp. American Diversified Wells Park III v. O'Melveny & MyersCourt of Appeals for the Ninth Circuit · 1995
- Resolution Trust Corporation, in Its Capacity as Receiver of Midwest Federal Savings Bank of Minot, Counter-Defendants/appellants v. Midwest Federal Savings Bank of Minot, a Federally Chartered Savings Association, as Trustee Centennial Estates, Inc. La Plata Investors John F. Nolan Gregory M. Beck Gerald G. Wilson Tmkb Associates John S. Tighe William D. McBrearty Michael J. Kiley, and Orangegate Investors, a California Limited Partnership, Counter-Claimant/appellee. Resolution Trust Corporation, in Its Capacity as Receiver of Midwest Federal Savings Bank of Minot v. Midwest Federal Savings Bank of Minot, a Federally Chartered Savings Association, as Trustee, and Orangegate Investors Centennial Estates, Inc. La Plata Investors John F. Nolan Gregory M. Beck Tmkb Associates Gerald G. Wilson Main St. Investors Royce T. Breazeale, Jr. Michael J. KileyCourt of Appeals for the Ninth Circuit · 1994
- E.I. Du Pont De Nemours and Company v. Federal Deposit Insurance Corporation, Receiver for United National Bank of WashingtonCourt of Appeals for the D.C. Circuit · 1994
28 more not listed; retrieve them via the Exa API.