West Park Associates v. Butterfield Savings & Loan Ass'n
Court of Appeals for the Ninth Circuit
1Opinion of the Court
WIGGINS, Circuit Judge:
OVERVIEW
Plaintiffs-Appellants (“Appellants”) are thirty-two property owners who sold property in Oregon and Washington to Butterfield Savings & Loan (“Old BSL”) in exchange for preferred stock in the bank holding company that was the sole owner of Old BSL. Shortly thereafter, Old BSL was declared insolvent and was placed into a receivership by federal banking regulators. As a result, the bank holding company was left without any assets and Appellants’ stock therein was rendered essentially worthless. We are asked to consider whether and against whom Appellants *1454may seek…
2Cases cited9 opinions
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- Vernon v. Resolution Trust Corp.Court of Appeals for the Eleventh Circuit · 1990
- Home Savings Bank, F.S.B., by Its Conservator, the Resolution Trust Corporation v. Robert B. GillamCourt of Appeals for the Ninth Circuit · 1991
- Mary E. Lawson and Matt Lawson v. Federal Deposit Insurance CorporationCourt of Appeals for the First Circuit · 1993
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