FIDELITY SAV. & LOAN ASS'N v. FEDERAL HOME LOAN BANK BOARD

Nos. 82-4337, 82-4354.

689 F.2d 803 (1982)

FIDELITY SAVINGS AND LOAN ASSOCIATION, Plaintiff-Appellee, Cross-Appellant, v. FEDERAL HOME LOAN BANK BOARD, Federal Savings and Loan Insurance Corporation, et al., Defendants-Appellants, Cross-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided September 2, 1982.

Rehearing and Rehearing Denied November 8, 1982.


Attorney(s) appearing for the Case

Barry D. Hovis, Angell, Homes & Lea, San Francisco, Cal., argued, for Fidelity Sav.; Stephen L. Kostka, Van Voorhis & Skaggs, Walnut Creek, Cal., on brief.

Thomas P. Vartanian, Washington, D.C., argued, for Fed. Home Loan Bank Bd.; Jeffrey M. Werthan, Fed. Home Loan Bank Bd., Washington, D.C., Alan Clark, Latham & Watkins, Los Angeles, Cal., on brief.

Randall P. Borcherding, Deputy Atty. Gen., San Francisco, Cal., argued, for amicus curiae State of Cal.; Joseph G. Passaic, Jr., Federal Deposit Ins. Corp., Washington, D.C., on brief.

Before CHOY, SNEED, and FARRIS, Circuit Judges.


Rehearing and Rehearing En Banc Denied November 8, 1982.

SNEED, Circuit Judge:

This appeal has its origin in a dispute over the appointment of the Federal Savings and Loan Insurance Corporation (FSLIC) as federal receiver for a state-chartered association, Fidelity Savings and Loan Association (Fidelity). The Savings and Loan Commissioner for the State of California (Commissioner) seized Fidelity for the purpose of liquidation and appointed the FSLIC state...

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