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GROSS v. BELL SAV. BANK PA SA

Nos. 92-1196, 92-1197.

974 F.2d 403 (1992)

Jay M. GROSS, as Trustee for Bell Savings Holdings, Inc. Money Purchase Pension Plan and Bell Savings Holdings, Inc. Profit Sharing Plan v. BELL SAVINGS BANK PA SA, in Receivership, Resolution Trust Corporation as Receiver; Bell Federal Savings Bank, in Conservatorship, Resolution Trust Corporation as Conservator Resolution Trust Corporation as Receiver for Bell Savings Bank PaSA ("RTC-Receiver") and Resolution Trust Corporation as Conservator for Bell Federal Bank ("RTC-Conservator"). Appellants in No. 92-1196 RESOLUTION TRUST CORPORATION, as Receiver for Bell Savings Bank PaSA; and Resolution Trust Corporation, as Conservator for Bell Federal Savings Bank, Petitioners in No. 92-1197 v. The Honorable Lowell A. REED, Jr., United States District Court Judge in the Eastern District of Pennsylvania; and Jay Gross, as Trustee for Bell Savings Holdings, Inc. Money Purchase Pension Plan and Bell Savings Holdings, Inc. Profit Sharing Plan.

United States Court of Appeals, Third Circuit.

Decided September 9, 1992.

As Amended October 5, 1992.

Attorney(s) appearing for the Case

Alan S. Fellheimer (argued), Judith E. Fellheimer, Maia Caplan, Fellheimer & Eichen, P.C., Philadelphia, Pa., for appellee/respondents.

Michael R. Lastowski, Mark C. Levy, Patricia A. McElroy, Saul, Ewing, Remick & Saul, Philadelphia, Pa., Kirk K. Van Tine (argued), Timothy S. Durst, Baker & Botts, Richard T. Aboussie, Vice President and Associate Gen. Counsel, P. Matthew Sutko, Resolution Trust Corp., Washington, D.C., Stephen G. Burns, Section Chief (Litigation), Frank A. Mayer, III, Resolution Trust Corp., Valley Forge, Pa., for appellants/petitioners.

Before: MANSMANN, SCIRICA and ROTH, Circuit Judges.

OPINION OF THE COURT

ROTH, Circuit Judge:

In this expedited appeal we are faced with the crucial issue of a federal court's power to enjoin aspects of the Resolution Trust Corporation's (RTC) administration of the savings and loan crisis. Appellees Jay and Nathaniel Gross1 sought an injunction requiring the appellant RTC to release nearly $500,000 of pension and profit-sharing assets in its control. The district court granted...

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