Federal Deposit Insurance v. Marine National Exchange Bank

MEMORANDUM AND ORDER

WARREN, District Judge.

This is another in a seemingly never ending stream of cases resulting from the collapse of American City Bank. Unlike the majority of cases, this one is not a suit on a note. Rather the Federal Deposit Insurance Corporation (FDIC), in its corporate capacity, is seeking a declaration as to its rights to certain monies held by the Marine National Trust Company, N.A. (Marine) as trustee for the American Bankshares Corporation Employees Pension Plan (Pension Plan). The plaintiff requests that the Court declare that it is entitled to set off amounts held…