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ENSIGN FINANCIAL CORP. v. FDIC

No. 90 CIV 5692 (KC).

785 F.Supp. 391 (1992)

ENSIGN FINANCIAL CORPORATION and Hamilton Holding Company, Plaintiffs, v. FEDERAL DEPOSIT INSURANCE CORPORATION, in its own Capacity, as Successor in Interest to Federal Savings and Loan Insurance Corporation, and as manager of the FSLIC Resolution Trust Fund, T. Timothy Ryan, Jr., Director, Office of Thrift Supervision, in his Individual and Official Capacity and as Successor in Interest to the Federal Home Loan Bank Board, and Ensign Bank, FSB, Defendants.

United States District Court, S.D. New York.

February 19, 1992.

Attorney(s) appearing for the Case

Sidney S. Rosdeitcher, Helen B. Kim, Paula A. Tuffin, Isaac D. Corre, Paul Weiss Rifkind Wharton & Garrison, New York City, John K. Villa, Williams & Connolly, Washington, D.C., for plaintiffs.

Harris Weinstein, Thomas J. Segal, Kenneth G. Guido, Office of Thrift Supervision, Office of Chief Counsel, Washington, D.C., Harvey Kurzweil, Jonathan W. Miller, Robin D. Adelstein, Dewey Ballantine, New York City, Mark Warren, Buffalo, N.Y., Stuart M. Gerson, Renee M. Wohlenhaus, Dept. of Justice, Civ. Div., Thomas A. Schulz, Marta Berkeley, Washington, D.C., for defendants.

MEMORANDUM ORDER

CONBOY, District Judge:

Currently pending before this Court is defendants' motion to dismiss the complaint. For the reasons that follow, defendants' motion is granted in part and denied in part.

Background

A. The Parties

Plaintiff Hamilton Holding Company ("Hamilton") owns 100% of plaintiff Ensign Financial Corporation ("Financial"), which in turn owns 100% of the stock of defendant Ensign Bank, FSB ("Ensign Bank...

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