Andrews' Bank & Lender Liability Litigation Reporter
July 26, 2001
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...