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BOARD OF GOVERNORS, FRS v. MCORP FINANCIAL, INC.

No. 90-913.

502 U.S. 32 (1991)

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM v. MCORP FINANCIAL, INC., et al.

United States Supreme Court.

Decided December 3, 1991.

Attorney(s) appearing for the Case

Jeffrey P. Minear argued the cause for petitioner in No. 90-913 and respondent in No. 90-914. On the briefs were Solicitor General Starr, Assistant Attorney General Gerson, Deputy Solicitor General Roberts, Michael R. Lazerwitz, Anthony J. Steinmeyer, and James V. Mattingly, Jr.

Alan B. Miller argued the cause for respondents in No. 90-913 and petitioners in No. 90-914. With him on the briefs were Harvey R. Miller, Steven Alan Reiss, John D. Hawke, Jr., Jerome I. Chapman, Howard N. Cayne, and David F. Freeman, Jr.

Stevens, J., delivered the opinion of the Court, in which all other Members joined, except Thomas, J., who took no part in the consideration or decision of the cases.

Justice Stevens, delivered the opinion of the Court.

MCorp, a bank holding company, filed voluntary bankruptcy petitions in March 1989. It then initiated an adversary proceeding against the Board of Governors of the Federal Reserve System (Board) seeking to enjoin the prosecution of two administrative proceedings, one charging MCorp with a violation of the Board's "source of strength" regulation1 and the other alleging a violation of ...

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