Legal Opinion
Federal Deposit Insurance v. Milbauer
District Court, D. Minnesota
Decided July 14, 2015No. 15cv434 (PAM/JJK)Published
1Opinion of the Court
MEMORANDUM AND ORDER
PAUL A. MAGNUSON, District Judge.
This matter is before the Court on Defendants’ Motion to Dismiss and Motion for In Camera Review. For the reasons that follow, the Motions are denied.
BACKGROUND
Patriot Bank was founded in 1998 in Lino Lakes, Minnesota, as Lino Lakes State Bank. By 2011, the Bank had three branches and was headquartered in Forest Lake, Minnesota. In late 2011, the Bank failed and the FDIC stepped in as receiver for the Bank in January 2012.
The FDIC brought this lawsuit claiming that the Bank’s President, John Milbauer, and seven members of the Bank’s Board…
2Cases cited6 opinions
- Bell Atlantic Corp. v. TwomblySupreme Court of the United States · 2007
- Morton v. BeckerCourt of Appeals for the Eighth Circuit · 1986
- Atherton v. Federal Deposit Insurance Corp.Supreme Court of the United States · 1997
- Janssen v. Best & FlanaganSupreme Court of Minnesota · 2003
- Warner v. E. C. Warner Co.Supreme Court of Minnesota · 1948
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