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

No. 87-6593.

901 F.2d 1490 (1990)

FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, Plaintiff-Appellee, v. John L. MOLINARO, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Memorandum filed November 3, 1989.

Withdrawn April 9, 1990.

Opinion Issued as Amended April 24, 1990.


Attorney(s) appearing for the Case

M. Jean Starcevich, San Jose, Cal., for defendant-appellant.

J. Michael Echevarria, Lawler, Felix & Hall, Los Angeles, Cal., for plaintiff-appellee.

Before HUG, HALL and WIGGINS, Circuit Judges.


OPINION

WIGGINS, Circuit Judge:

John L. Molinaro appeals from a summary judgment entered against him in this action brought by the Federal Savings and Loan Insurance Corporation (FSLIC) for recovery of a two million dollar dividend. As a director and the sole shareholder of a federally insured savings and loan association, Molinaro authorized and received the dividend. The district court found that the dividend was improperly paid out of a restricted account...

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