In Re Imperial Credit Industries, Inc.
Court of Appeals for the Ninth Circuit
1Opinion of the Court
HALL, Circuit Judge:
These companion cases concern the un-dercapitalization and eventual insolvency of a federally insured bank, Southern Pacific Bank (SPB), and its holding company, Imperial Credit Industries (Imperial). In February 2002, the Federal Deposit Insurance Corporation (FDIC) notified SPB that it was under-capitalized and required it to submit a capital restoration plan. SPB submitted a capital plan as well as a guaranty from Imperial that SPB would perform under the plan. SPB failed to implement its capital plan, and the FDIC demanded that Imperial pay its $18,375,800 obligation…
2Cases cited21 opinions
- Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
- Barnhart v. Sigmon Coal Co.Supreme Court of the United States · 2002
- Bank of the West v. Superior CourtCalifornia Supreme Court · 1992
- Clinton v. City of New YorkSupreme Court of the United States · 1998
- Smiley v. Citibank (South Dakota), N. A.Supreme Court of the United States · 1996
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