1. Home
  2. Browse Decisions
  3. F.3d
  4. 821 F.3d
  5. 821 F.3d 372 (2016)
 

FDIC v. FIRST HORIZON ASSET SECURITIES, INC.

Docket No. 14-3648-cv.

821 F.3d 372 (2016)

FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for Colonial Bank, Plaintiff-Appellant, v. FIRST HORIZON ASSET SECURITIES, INC., First Horizon Home Loan Corporation, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., FTN Financial Securities Corp., HSBC Securities (USA) Inc., RBS Securities Inc., UBS Securities LLC, and Wells Fargo Asset Securities Corporation, Defendants-Appellees, Chase Mortgage Finance Corp., JP Morgan Chase & Co., JP Morgan Securities LLC, Citicorp Mortgage Securities, Inc., Citimortgage, Inc., Citigroup Global Markets Inc., Ally Securities LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Defendants.

United States Court of Appeals, Second Circuit.

Decided: May 19, 2016.

Attorney(s) appearing for the Case

James Scott Watson , Counsel ( Colleen J. Boles , Assistant General Counsel, Kathryn R. Norcross , Senior Counsel, Jaclyn C. Taner , Counsel, on the brief), Federal Deposit Insurance Corporation, Arlington, VA, for Plaintiff-Appellant.

Robert J. Giuffra, Jr. ( Bruce E. Clark , David B. Tulchin , Amanda Flug Davidoff , Jeffrey B. Wall , on the brief), Sullivan & Cromwell LLP, New York, NY, for Defendants-Appellees First Horizon Asset Securities, Inc., First Horizon Home Loan Corporation, FTN Financial Securities Corp., and UBS Securities, LLC.

Richard W. Clary , Cravath, Swaine & Moore LLP, New York, NY, for Defendant-Appellee Credit Suisse Securities (USA) LLC.

Thomas C. Rice , Andrew T. Frankel , Simpson Thacher & Bartlett LLP, New York, NY, for Defendants-Appellees Deutsche Bank Securities Inc. and RBS Securities Inc.

Marc T.G. Dworsky , Munger, Tolles & Olson LLP, Los Angeles, CA, for Defendant-Appellee Wells Fargo Asset Securities Corporation.

Michael O. Ware , Mayer Brown LLP, New York, NY, for Defendant-Appellee HSBC Securities (USA) Inc.

Kathleen M. Sullivan , Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY, ( Philippe Z. Selendy , Adam M. Abensohn , Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY, David C. Frederick , Wan J. Kim , Gregory G. Rapawy , Kellogg, Huber, Hansen, Todd, Evans & Figel, P.L.L.C., Washington, DC, on the brief), for Amici Curiae Federal Housing Finance Agency and National Credit Union Administration Board in Support of Plaintiff-Appellant.

Michael J. Dell , Kramer Levin Naftalis & Frankel LLP, New York, NY, Ira D. Hammerman , Kevin Carroll , Securities Industry and Financial Markets Association, Washington, DC, Thomas Pinder , American Bankers Association, Washington, DC, for Amici Curiae Securities Industry and Financial Markets Association, The American Bankers Association, and The Clearing House LLC in Support of Appellees and Affirmance.

William M. Jay , Goodwin Procter LLP, Washington, DC, Joshua M. Daniels , Goodwin Procter LLP, Boston, MA, for Amicus Curiae The Business Roundtable in Support of Defendants-Appellees.

Judge PARKER dissents in a separate opinion.

Plaintiff-Appellant Federal Deposit Insurance Corporation ("FDIC") brought this action under the Securities Act of 1933 as receiver for Colonial Bank ("Colonial"). Because the complaint was filed less than three years after the FDIC was appointed receiver, it was timely under the terms of

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases