Federal Deposit Insurance v. Hish

Reversed and remanded by published opinion. Judge LUTTIG wrote the opinion, in which Judge WIDENER and Judge BEATY joined. Judge BEATY wrote a separate concurring opinion.

OPINION

LUTTIG, Circuit Judge:

Appellee FDIC, receiver for Madison National Bank of Virginia (“Madison Bank”), brought this declaratory judgment action seeking to validate a Deed of Trust executed by John W. Koons, Jr. (“JWK”) in favor of Madison Bank on a 22.5% fee simple interest in certain property in Falls Church, Virginia. The property was owned by Koons Leasing Development Co. (“Koons Leasing”), a Virginia general…