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FEDERAL SAV. AND LOAN INS. CORP. v. TICKTIN

No. 85-1989.

832 F.2d 1438 (1987)

FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, as Receiver for Manning Savings and Loan Association, Plaintiff-Appellee, v. Harold J. TICKTIN, Joseph J. Ticktin, William Heaton, Harold Brown, and Judith Ticktin, Defendants-Appellants.

United States Court of Appeals, Seventh Circuit.

Decided November 2, 1987.

Rehearing and Rehearing Denied December 14, 1987.

Attorney(s) appearing for the Case

Richard Karr, Irving Faber & Assoc., Ltd., Chicago, Ill., for defendants-appellants.

William Carlisle Herbert, Hopkins & Sutter, Chicago, Ill., for plaintiff-appellee.

Before WOOD and RIPPLE, Circuit Judges, and ESCHBACH, Senior Circuit Judge.

Rehearing and Rehearing En Banc Denied December 14, 1987.

ESCHBACH, Senior Circuit Judge.

This appeal requires us to interpret the statutory provision that governs the federal district courts' jurisdiction of cases in which the Federal Savings and Loan Insurance Corporation is a party, 12 U.S.C. § 1730(k)(1). The FSLIC, acting as receiver of a savings and loan, brought this suit under Illinois law against the directors of the institution alleging breach...

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