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IN RE FIRSTCORP, INC.

No. 92-1108.

973 F.2d 243 (1992)

In re FIRSTCORP, INCORPORATED, Debtor. RESOLUTION TRUST CORPORATION; Sir Walter Management, Incorporated; Office of Thrift Supervision, Plaintiffs-Appellees, v. FIRSTCORP, INCORPORATED; Alfred P. Carlton, Jr., Trustee, successor-in-interest to the Debtor, Firstcorp, Incorporated, Defendants-Appellants.

United States Court of Appeals, Fourth Circuit.

Decided August 10, 1992.

Attorney(s) appearing for the Case

Lacy H. Reaves, Poyner & Spruill, Raleigh, N.C., argued (Alfred P. Carlton, Jr., McNair Law Firm, on brief), for defendants-appellants.

Harvey Alan Levin, Asst. Chief Counsel, Office of Thrift Supervision, Washington, D.C., argued, for Appellee OTS (Michael Edward Tucci, Morrison & Hecker, Washington, D.C., on brief), for plaintiffs-appellees RTC and Sir Walter Management. (Jonathan B. Taylor, Sr. Atty., Resolution Trust Corp., Washington, D.C., Jonathan R. Harkavy, Martha A. Geer, Patterson, Harkavy, Lawrence, Van Noppen & Okun, Greensboro, N.C., on brief), for plaintiffs-appellees RTC and Sir Walter Management.

Before PHILLIPS, SPROUSE, and WILKINSON, Circuit Judges.

OPINION

WILKINSON, Circuit Judge:

This case raises the question of the appropriate treatment under federal law of a savings and loan holding company's commitment to maintain the capital of a purchased savings and loan subsidiary when the holding company files for bankruptcy under Chapter 11. For the reasons that follow, we hold that the appellant holding company had undertaken a capital maintenance obligation in this case and that it was required under 11...

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