Salinas Valley Community Federal Credit Union v. National Credit Union Administration

MEMORANDUM AND ORDER

PECKHAM, Chief Judge.

I. INTRODUCTION

In this action, plaintiff seeks a preliminary injunction to prevent the National Credit Union Administration from liquidating plaintiff Salinas Valley Federal Credit Union without first affording plaintiff an adequate opportunity to present grounds and reasons why its charter should be restored and why it should not be placed in involuntary liquidation. On April 22, this court issued an order temporarily restraining defendant from making payment on insured accounts or payments to any other claimants against the assets of the credit union…