Commercial Services of Perry, Inc. v. Federal Deposit Insurance

JERRY E. SMITH, Circuit Judge:

Commercial Services of Perry, Inc. (“CSP”), sued the Federal Deposit Insurance Corporation (“FDIC”), claiming the FDIC had sold, for its own profit, lands held pursuant to two deeds of trust that the FDIC had previously sold to CSP. Thus, CSP claims, the proceeds of that sale inure to it. The FDIC asserts that the deeds of trust had been fore closed on while the FDIC continued to hold it, and thus that the sale of assets to CSP did not include the relevant deeds of trust, which had been extinguished before the sale. Because we agree with the district court that…