Andrews' Bank & Lender Liability Litigation Reporter
July 26, 2001
FIRREA
Copyright (c) 2001 Andrews Publications
CONFLICT OF INTEREST GIVES BANK SHAREHOLDER RIGHT TO SUE
Delta Sav. Bank v. United States
A shareholder of a failed bank has the right to sue the United States on behalf of the bank because the FDIC has a conflict of interest, the Ninth Circuit has ruled, adopting an exception to the mandates of FIRREA. Even though the court found the...
CONFLICT OF INTEREST GIVES BANK SHAREHOLDER RIGHT TO SUE
Delta Sav. Bank v. United States