Legal Opinion
Official Unsecured Creditors' Committee ex rel. Estate of Hescon Developers, Inc. v. Capistrano National Bank (In re Hescon Developers, Inc.)
United States Bankruptcy Court, S.D. California
Decided September 12, 1988No. Adv. No. C86-0867-H11PublishedCited by 2 opinions
1Opinion of the Court
AMENDED MEMORANDUM DECISION
JOHN J. HARGROVE, Bankruptcy Judge.
I
At issue is whether the- Official Creditors’ Committee (“OCC”) may maintain a cause of action against the Federal Deposit Insurance Corporation (“FDIC”) under Cal. Civ.Code § 3439 (West 1970) for an alleged fraudulent transfer made to Capistrano National Bank (“CNB”) prior to the FDIC’s appointment as receiver for CNB.
The FDIC argues that pursuant to 12 U.S.C. § 1819, federal law applies to the OCC complaint, thereby precluding a cause of action under state law.
The OCC contends that 12 U.S.C. § 1819 confers the jurisdiction under…
2Cases cited11 opinions
- D'Oench, Duhme & Co. v. Federal Deposit InsuranceSupreme Court of the United States · 1942
- Fed. Sec. L. Rep. P 98,654 William L. Gunter and Camille S. Gunter v. Theodore M. HutchesonCourt of Appeals for the Eleventh Circuit · 1982
- Federal Deposit Insurance Corporation, Etc., and v. Santino D. Meo, AndCourt of Appeals for the Ninth Circuit · 1974
- Federal Deposit Insurance Corporation as Receiver of San Francisco National Bank v. David M. GlickmanCourt of Appeals for the Ninth Circuit · 1971
- Federal Deposit Insurance Corporation v. W. Jerome AshleyCourt of Appeals for the Sixth Circuit · 1978
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3Cited by2 opinions
- Federal Deposit Insurance Corporation, in Its Corporate Capacity v. Jerry D. Wheat, Ben D. SudderthCourt of Appeals for the Fifth Circuit · 1992
- F.D.I.C. v. WheatCourt of Appeals for the Fifth Circuit · 1992