LARSEN v. FDIC/MANAGER FUND

No. D-0180.

835 S.W.2d 66 (1992)

Max LARSEN, Trustee, Petitioner, v. FDIC/MANAGER FUND, as Successor in Interest of American Savings Bank, Respondent.

Supreme Court of Texas.

June 10, 1992.


Attorney(s) appearing for the Case

Mark H. How and Carcia F. Pennell, Dallas, for petitioner.

Michael Byrd, W. Ralph Canada, Jr., Panos Midis, Dallas and John Parker, Washington, D.C., for respondent.


OPINION

GAMMAGE, Justice.

The issue in this case is one of statutory construction: whether Congress intended a section in the Financial Institutions Reform, Recovery, and Enforcement Act of 19891 ("FIRREA") to give the FDIC power to step in after judgment as receiver for a failed financial institution and assert substantive federal defenses for the first time on appeal. The trial court rendered judgment for Max Larsen, trustee...

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