QUEEN v. FIRST SERVICE BANK FOR SAV.

Civ. No. C-89-537-D.

129 B.R. 5 (1991)

In re Francis X. QUEEN, Sr. and Jeffrey A. Schreiber, Esq., as Chapter 7 Trustee in the Matter of FXQ, Inc., Plaintiffs, v. FIRST SERVICE BANK FOR SAVINGS, Federal Deposit Insurance Corp., as liquidating agent for the First Service Bank for Savings, Robert F. Fredo, Jr., individually and in his official capacity as former Senior Vice-President of the Bank, and Columbo ("Sonny") Deagazia, individually and in his official capacity as former Senior Vice-President of the Bank, Defendants.

United States Bankruptcy Court, D. New Hampshire.

June 7, 1991.


Attorney(s) appearing for the Case

Jean Claude Sakellarios, Manchester, N.H., for Francis Queen.

John J. Graubard, New York City, for Federal Deposit Ins. Corp.

Steven A. Solomon, Manchester, N.H., for Federal Deposit Ins. Corp. (Local Counsel).

Jeffrey A. Schreiber, Trustee, Salem, Mass.

U.S. Trustee, Boston, Mass.


MEMORANDUM OPINION

JAMES E. YACOS, Bankruptcy Judge.

The FDIC brought a motion for summary judgment against the plaintiffs1 in this lender liability action. The FDIC principally relies on the D'Oench doctrine and 12 U.S.C. § 1823(e); it claims the alleged unwritten secret agreements cannot constitute a claim against the FDIC. The Court heard oral arguments on March 22, 1991, and I then took the matter under submission...

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