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MATTER OF SEIDMAN

Nos. 92-3722, 92-3729 and 92-5392.

37 F.3d 911 (1994)

In The Matter of Lawrence B. SEIDMAN and John Bailey, Individually, as Persons Participating in the Conduct of the Affairs of Crestmont Federal Savings and Loan Association, Edison, New Jersey, John Bailey, Petitioner at No. 92-3722, Lawrence B. Seidman, Petitioner at No. 92-3729. Lawrence B. SEIDMAN, Appellant, v. OFFICE OF THRIFT SUPERVISION, DEPARTMENT OF The TREASURY, UNITED STATES of America, Appellee

United States Court of Appeals, Third Circuit.

Decided September 14, 1994.

Attorney(s) appearing for the Case

John J. Sarno (argued), Robinson, St. John & Wayne, Newark, NJ, for John Bailey.

Samuel D. Bornstein, Paramus, NJ and Frank J. Eisenhart, Jr. (argued), Arthur W. Leibold, Jr., Edward Jewett, Dechert, Price & Rhoads, Washington, DC, for Lawrence B. Seidman.

Faith S. Hochberg, Deputy Chief Counsel, Office of U.S. Atty., Newark, NJ, Richard E. Shapiro, Office of Thrift Supervision, Jersey City, NJ and Harris Weinstein, Chief Counsel, Carolyn B. Lieberman, Sr. Deputy Chief Counsel, Thomas J. Segal, Deputy Chief Counsel, Aaron B. Kahn, Asst. Chief Counsel (argued), Teresa A. Scott, Office of the Chief Counsel, Office of Thrift Supervision, Washington, DC, for Office of Thrift Supervision, U.S. Dept. of Treasury.

Before STAPLETON, HUTCHINSON, and ROTH, Circuit Judges.

OPINION OF THE COURT

HUTCHINSON, Circuit Judge.

In these consolidated cases, Lawrence Seidman ("Seidman") and John Bailey ("Bailey") petition for review of the order of the Director ("Director") of the Office of Thrift Supervision ("OTS") subjecting them to administrative sanctions for their part in a loan transaction Crestmont Federal Savings and Loan ("Crestmont") considered while Seidman was Chairman of...

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