Legal Opinion
Lb Credit Corporation v. Resolution Trust Corporation, as Receiver for Concordia Federal Bank for Savings
Court of Appeals for the Seventh Circuit
Decided March 10, 1995No. 94-1610PublishedCited by 172 opinions
1Opinion of the Court
ILANA DIAMOND ROVNER, Circuit Judge.
After its appointment as the receiver for the insolvent Concordia Federal Bank for Savings, the Resolution Trust Corporation exercised its authority under the Financial Institutions Reform, Recovery and Enforcement Act of 1989, 12 U.S.C. § 1821(e), to repudiate a lease that had been partially assigned to LB Credit Corporation. LB Credit sued the RTC for damages, contending that the retroactive application of FIR-REA to a lease that pre-dated the statute amounted to an unconstitutional taking of private property. The district court held for the RTC,…
2Cases cited15 opinions
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3Cited by172 opinions
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