FSLIC v. Landry

ORDER AND REASONS

FELDMAN, District Judge.

Plaintiff, Federal Savings & Loan Insurance Corporation, as Receiver for North-lake Federal Savings and Loan Association moves for summary judgment. Defendants, Mildred M. Landry, wife of/and John A. Leddy, Leddy Trust A, and Leddy Trust B have filed a cross-motion for summary judgment in response. Plaintiff’s Motion is GRANTED. Defendants’ Motion is DENIED.

These motions focus attention on a novel and interesting question of law: the nature of peremption and prescription, and the extent to which a state statute may be used to time-bar a federally…