Simon v. Cebrick

OPINION OF THE COURT

SAROKIN, Circuit Judge.

The question presented is whether mortgages held by the FDIC can be extinguished without the FDIC’s consent through foreclosure of plaintiffs superior real estate tax liens. We hold that the district court correctly interpreted and applied 12 U.S.C. § 1825(b)(2) to protect the FDIC’s lien interests from foreclosure. Additionally, we hold that the Tax Injunction Act does not divest the district court of jurisdiction over this action and that the delay in the enforcement of plaintiffs tax liens does not presently rise to the level of a compensable…