Central National Bank v. Chalet Food Corp.

OPINION OF THE COURT

Kristin Booth Glen, J.

This motion for summary judgment is brought by the Federal Deposit Insurance Corporation (FDIC), as the receiver for *238former plaintiff Central National Bank (CNB), which has previously been substituted as plaintiff, and raises the relatively novel question of whether personal defenses that are sufficient to preclude an award of summary judgment against the bank may be asserted against the FDIC.1

BACKGROUND

This action was originally brought by CNB, as successor to Central State Bank, to recover on a demand collateral note executed by defendant Chalet…