FIRST SAV., ETC. v. FIRST FED S. & L., ETC.

Civ. No. 81-0155.

547 F.Supp. 988 (1982)

FIRST SAVINGS & LOAN ASSOCIATION, a Hawaii savings and loan association; Federated Finance Co., Ltd.; Investors Finance Corp.; and Charter Financial Corp., Plaintiffs, v. FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF HAWAII, a federal corporation; Federal Savings & Loan Insurance Corporation, an instrumentality of the United States, in its capacity as an insurance corporation, and in its capacity as Receiver of First Savings and Loan Association; United States of America; Federal Home Loan Bank Board, an instrumentality of the United States; Jay Janis, member of Federal Home Loan Bank Board; John H. Dolton, member of Federal Home Loan Bank Board; Andrew DiPrete, member of Federal Home Loan Bank Board; Lawrence Hayes, Gerald L. Reese; Tany S. Hong, individually and in his capacity as Director of Regulatory Agencies and Bank Examiner, State of Hawaii, and in his capacity as Receiver of First Savings and Loan Association; and Mary Bitterman, in her capacity as Director of Regulatory Agencies and Bank Examiner, State of Hawaii, and in her capacity as Receiver of First Savings and Loan Association, Defendants.

United States District Court, D. Hawaii.

January 21, 1982.


Attorney(s) appearing for the Case

Randolph R. Slaton, Honolulu, Hawaii, for plaintiffs.

Steven H. Levinson, Diane D. Hastert, Honolulu, Hawaii, for First Federal Sav. & Loan of Hawaii, FSLIC and FHLBB.

James H. Dannenberg, Deputy Atty. Gen., Honolulu, Hawaii, for defendants Hong and Bitterman.

Jeffrey M. Werthan, Asst. U. S. Atty., Honolulu, Hawaii, for defendants U. S. A., Janis, Dolton, DiPrete, Hayes and Reese.


DECISION

CLAIBORNE, Chief Judge.

This is a suit initiated by the First Savings and Loan Association, two of its former shareholders, Investors Financial Corporation and Charter Financial Corporation, and a pledgee of First Savings stock, Federated Financial Company.

The Defendants are the United States, the Federal Savings and Loan Insurance Corporation, referred to hereinafter in this decision as FSLIC; and the Federal Home Loan Bank Board will...

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