Legal Opinion

In Re Imperial Credit Industries, Inc.

Court of Appeals for the Ninth Circuit

Decided June 4, 2008No. 05-56073, 06-56763PublishedCited by 10 opinions

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

  1. Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
  2. Barnhart v. Sigmon Coal Co.Supreme Court of the United States · 2002
  3. Bank of the West v. Superior CourtCalifornia Supreme Court · 1992
  4. Clinton v. City of New YorkSupreme Court of the United States · 1998
  5. Smiley v. Citibank (South Dakota), N. A.Supreme Court of the United States · 1996

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3Cited by10 opinions

  1. Fleischer Studios, Inc. v. A.V.E.L.A., Inc.Court of Appeals for the Ninth Circuit · 2011
  2. Minden Pictures, Inc. v. John Wiley & SonsDistrict Court, N.D. California · 2014
  3. Fleischer Studios, Inc. v. A.V.E.L.A., Inc.Court of Appeals for the Ninth Circuit · 2011
  4. In Re Colonial Bancgroup, Inc.United States Bankruptcy Court, M.D. Alabama · 2010
  5. Dvorak v. Clean Water ServicesCourt of Appeals for the Ninth Circuit · 2009

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