Southern California Federal Savings & Loan Ass'n v. United States

OPINION

BASKIR, Chief Judge.

This Winstar-related case is based on the 1987 acquisition and supervisory conversion of a failing savings and loan, Southern California Savings and Loan Association, located in Beverly Hills, California. Pending before the Court is a Motion to Intervene filed by one of the investor-signatories to the transaction, Gerald L. Parsky. For the reasons set forth below, we deny the motion.

I. The Transaction

In the 1980’s, as an alternative to liquidating a number of troubled thrifts and expending large amounts of the Federal Saving and Loan Insurance Corporation’s (FSLIC)…