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MARC DEVELOPMENT, INC. v. F.D.I.C.

No. 91-4172.

992 F.2d 1503 (1993)

MARC DEVELOPMENT, INC., an Illinois corporation; Keith-Marc Properties, Ltd., an Illinois limited partnership, Plaintiffs-Appellees, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for the Cosmopolitan National Bank of Chicago, Defendant-Appellant.

United States Court of Appeals, Tenth Circuit.

May 6, 1993.

Attorney(s) appearing for the Case

Richard J. Osterman, Jr., Sr. Counsel, (Ann S. Duross, Asst. Gen. Counsel, Michael H. Krimminger, Gen. Counsel, with him on the brief) F.D.I.C., Washington, DC, for defendant-appellant.

Neil A. Kaplan and Ted Boyer of Clyde, Pratt & Snow, Salt Lake City, UT, for plaintiffs-appellees.

Before McKAY, Chief Judge, LOGAN and BALDOCK, Circuit Judges.

BALDOCK, Circuit Judge.

Defendant Federal Deposit Insurance Corporation (the "FDIC") appeals the district court's denial of its request for a 180 day stay under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ("FIRREA"), Pub.L. No. 101-73, 103 Stat. 183 (1989) (relevant sections codified at 12 U.S.C. § 1821). The FDIC specifically claims that it is entitled to the stay under 12 U.S.C. § 1821(d) and for support cites FIRREA's legislative...

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