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McCULLOUGH v. F.D.I.C.

No. 92-1584.

987 F.2d 870 (1993)

David J. McCULLOUGH and Winifred M. McCullough, Plaintiffs, Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for Bank of New England, N.A., Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided March 12, 1993.

Attorney(s) appearing for the Case

William H. Sheehan, III with whom Pearl, McNiff, Crean, Cook & Sheehan, Peabody, MA, were on the brief, for plaintiffs, appellants.

Michelle Kosse, Counsel, F.D.I.C., with whom Ann S. DuRoss, Asst. Gen. Counsel, Colleen B. Bombardier, Washington, DC, Sr. Counsel, Daniel I. Small, and Widett, Slater & Goldman, P.C., Boston, MA, were on brief, for defendant, appellee.

Before TORRUELLA, Circuit Judge, BROWN, Senior Circuit Judge, and STAHL, Circuit Judge.

STAHL, Circuit Judge.

In Langley v. Federal Deposit Ins. Corp., 484 U.S. 86, 108 S.Ct. 396, 98 L.Ed.2d 340 (1987), the Supreme Court ruled that 12 U.S.C. § 1823(e)1 shields the Federal Deposit Insurance Corporation ("FDIC") from essentially all claims of misrepresentation relating to any asset acquired by it under 12 U.S.C. §§ 1821 or 1823...

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