California Bank & Trust v. Piedmont Operating Partnership
California Court of Appeal
1Opinion of the Court
Opinion
MOORE, J.
“In 1989, Congress enacted the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, which is often referred to by the acronym FIRREA, and is codified at title 12 United States Code section 1821(d) . . . .” (Neman v. Commercial Capital Bank (2009) 173 Cal.App.4th 645, 648 [92 Cal.Rptr.3d 800].) FIRREA “was designed to provide for takeovers of failed federally insured banking institutions” and “to provide a smooth mechanism for the rehabilitation” of such institutions and for the disposal of claims against them. (Neman, at p. 648.) “. . . FIRREA is a public…
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