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HANCOCK FINANCIAL CORP. v. FEDERAL SAVINGS & L. INS. CORP.

Nos. 74-1137, 72-1327.

492 F.2d 1325 (1974)

HANCOCK FINANCIAL CORPORATION, a Delaware corporation, Appellant, v. FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, an instrumentality of the United States of America, as receiver for Gibraltar Savings and Loan Association, an Arizona corporation, Appellee. HANCOCK FINANCIAL CORPORATION, a Delaware corporation, Appellee, v. FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, an instrumentality of the United States of America, as receiver for Gibraltar Savings and Loan Association, an Arizona corporation, Appellant.

United States Court of Appeals, Ninth Circuit.

February 26, 1974.

Attorney(s) appearing for the Case

Robert R. Thornton, Hahn, Cazier, Thornton, Hoegh & Leff, Los Angeles, Cal., Edward V. Sexton, Phoenix, Ariz., for appellant (74-1137), for appellee (72-1327).

Daniel J. Goldberg, Associate Gen. Counsel, Fed. Sav. & Loan Ins. Corp., Washington, D. C., Bernald C. Porter, Tempe, Ariz., for appellee (74-1137), for appellant (72-1327).

Before CHAMBERS, CARTER, and GOODWIN, Circuit Judges.

ALFRED T. GOODWIN, Circuit Judge:

Hancock, the principal stockholder in Gibraltar Savings and Loan Association, appeals the refusal by the district court to enjoin the sale of Gibraltar's assets by its receiver. The court dismissed the action on the ground that subject-matter jurisdiction was expressly barred by statute. We affirm.

Gibraltar, chartered by the State of Arizona, was insured by the Federal Savings and Loan Insurance Corporation (FSLIC). In 1966...

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