Soriero v. Federal Deposit Insurance

MEMORANDUM AND ORDER

BECHTLE, District Judge.

Presently before the court are the cross-motions for summary judgment of plaintiff Frank J. Soriero (“plaintiff’) and defendant Federal Deposit Insurance Corporation (“FDIC”). For the reasons set forth below, the court will grant Soriero’s motion for summary judgment and will deny the FDIC’s motion for summary judgment. Judgment will be entered in favor of plaintiff and against the FDIC.

I. BACKGROUND

This ease involves a claim for supplemental pension benefits made by a former employee of a failed bank, against the FDIC, as receiver for the bank.…