Official Unsecured Creditors' Committee Ex Rel. Estate of Hescon Developers, Inc. (In Re Hescon Developers, Inc.)

MEMORANDUM DECISION

JOHN J. HARGROVE, Bankruptcy Judge.

I

At issue is whether the Official Creditors’ Committee (“OCC") may maintain a cause of action against the Federal Deposit Insurance Corporation (“FDIC") under Cal. Civ.Code § 3439 (West 1970) for an alleged fraudulent transfer made to Capistrano National Bank (“CNB”) prior to the FDIC’s appointment as receiver for CNB.

The FDIC argues that pursuant to 12 U.S.C. § 1819, federal law applies to the OCC complaint, thereby precluding a cause of action under state law.

The OCC contends that 12 U.S.C. § 1819 confers the jurisdiction under which the…