Nickless v. FDIC (In re Singh)

DECISION ON REMAND

JAMES F. QUEENAN, Jr., Bankruptcy Judge.

This is an action of tort for negligence brought by David M. Nickless (the “Trustee”), as chapter 11 trustee of the estate of Baldev Singh, against the Federal Deposit Insurance Corporation, as liquidating agent of Heritage — NIS Bank for Savings (“FDIC”). It is before this court after remand from the United States District Court for the District of Massachusetts.

I. UNDISPUTED FACTS

The parties’ pretrial stipulations and the undisputed evidence at trial disclose the following. On January 28, 1974, Baldev Singh (the “Debtor”) purchased…