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RESOLUTION TRUST CORP. v. DIAMOND

No. 55, Docket 92-6244.

18 F.3d 111 (1994)

RESOLUTION TRUST CORPORATION, as Receiver for Nassau Savings and Loan Association, F.A., Plaintiff-Appellant, v. Selma DIAMOND, Ira Kaufman, Jerome Lederer, Peggy Lehman, Susan Solomon Patullo, Lloyd Ribner, as executor of the estate of Muriel Ribner, Horace Solomon, Lillian Solomon, Denise Tucker, Angelo Aponte, Commissioner of the Division of Housing and Community Renewal of the State of New York, and Robert Abrams, Attorney General of the State of New York, Defendants-Appellees, and New York State Division of Housing and Community Renewal, Appellee.

United States Court of Appeals, Second Circuit.

Decided March 2, 1994.

Attorney(s) appearing for the Case

Dennis S. Klein, Washington, DC (Abraham D. Sofaer, Lawrence F. Bates, Kevin M. Crotty, Hughes, Hubbard & Reed, Washington, DC, Frank H. Penski, New York, NY, Nixon, Hargrave, Devans & Doyle, New York, NY, of counsel), for plaintiff-appellant.

Gary R. Connor, New York (Attorney General's Office, State of New York, New York, NY, Robert A. Machleder, New York, NY, Wien, Malkin & Bettex, New York, NY, Don D. Buchwald, New York, NY, Buchwald & Kaufman, New York, NY, of counsel), for defendants-appellees.

Steven Raison, New York, NY (Colleen F. McGuire, New York, NY, on the brief), for defendant-appellee Lloyd Ribner.

Before PRATT, McLAUGHLIN and JACOBS, Circuit Judges.

JACOBS, Circuit Judge:

Resolution Trust Corporation ("RTC") is a government corporation that acts as receiver or conservator for federally-insured thrift institutions in financial distress. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ("FIRREA"), directs RTC to realize a maximum recovery on the value of the thrift assets that come into its possession, and has conferred on RTC a number of extraordinary powers to help it in doing so. Among...

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