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MAGNOLIA FEDERAL BANK FOR SAVINGS v. U.S.

No. 93-7365.

42 F.3d 968 (1995)

MAGNOLIA FEDERAL BANK FOR SAVINGS, a Federal Savings Bank, Plaintiff-Appellant, v. UNITED STATES of America, et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

January 24, 1995.

Attorney(s) appearing for the Case

Charles Stern, Jr., Robert M. Steeg, Steeg & O'Connor, New Orleans, LA, for appellant.

Steve Frank, Robert Greenspan, Dept. of Justice, Washington, DC, Stephen Graben, Asst. U.S. Atty., George Phillips, U.S. Atty., Biloxi, MS, for appellees.

Before POLITZ, Chief Judge, JONES, Circuit Judge, and FULLAM, District Judge.

EDITH H. JONES, Circuit Judge:

Relying on Mississippi law, Magnolia Federal Bank for Savings ("Magnolia") sued the United States Small Business Administration ("SBA") for a declaratory judgment subordinating or extinguishing two SBA liens against certain real property upon which Magnolia also held a lien. The district court granted summary judgment for the SBA, equating Magnolia's effort with a desire to assert a state statute of limitations against the federal agency...

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