Franklin Savings Corp. v. Office of Thrift Supervision

MEMORANDUM AND ORDER

LUNGSTRUM, Chief Judge.

This adversary proceeding was withdrawn from the Chapter 11 bankruptcy of plaintiff Franklin Savings Corporation (“FSC”). Defendant Office of Thrift Supervision (the “OTS”) filed a proof of claim in the bankruptcy proceeding and FSC objected to that proof of claim. The matter is before the court on the parties’ cross-motions for summary judgment (Docs. 136 & 137). For the reasons explained below, the court will grant FSC’s motion and deny the OTS’s motion because FSC’s capital maintenance commitment ceased when the OTS appointed a conservator for…