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FRANKLIN BANK v. F.D.I.C.

No. C-93-1373 WHO.

850 F.Supp. 845 (1994)

FRANKLIN BANK, Plaintiff, v. FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity and as receiver for Financial Center Bank, N.A., Defendant.

United States District Court, N.D. California.

April 13, 1994.

Attorney(s) appearing for the Case

Patricia L. McClaran, Mark Joseph Kenney, Severson & Werson, San Francisco, CA, for plaintiff.

Miriam S. Aguiar, Catherine T. Yoshii, F.D.I.C., Legal Div., San Jose, CA, for defendant.

OPINION AND ORDER

ORRICK, District Judge.

In 1989, the Congress of the United States, reacting to the dramatic increase in bank failures, adopted the Financial Institutions Reform Recovery and Enforcement Act of 1989 ("FIRREA"), Pub.L. 101-73, § 212(d) (codified as amended at the Federal Deposit Insurance Act, 12 U.S.C. § 1821(d)).

This action brought by plaintiff, Franklin Bank ("Franklin"), an approved creditor of the receivership estate...

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