Shepherd Financial Corp. v. Federal Savings & Loan Insurance

MEMORANDUM ORDER

FISH, District Judge.

This case is before the court on plaintiffs’ motion for new trial in light of Coit Independence Joint Venture v. FSLIC as Receiver for FirstSouth, N.A., — U.S. -, 109 S.Ct. 1361, 103 L.Ed.2d 602 (1989).1 Because Coit largely overturned the Hudspeth doctrine, id. at -, 109 S.Ct. at -, the motion for a new trial is GRANTED to the extent of vacating the dismissal of the claims against FSLIC.2

Nevertheless, in light of recent Supreme Court pronouncements, the court has determined that this case was improperly removed. Therefore, it is remanded to state court.3

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