F.D.I.C. v. ADAMS

No. 1 CA-CV 94-0121.

187 Ariz. 585 (1996)

931 P.2d 1095

In re 115 Defendants. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver of the North American Bank, an Arizona Corporation, Plaintiff-Appellee, v. Norman Ronald ADAMS, and Sylvia Darlene Adams, (CV 89-21668); Felix Conley Alfieri, (CV 89-15996); Robert Louis Boyd and Joann Boyd, (CV 89-16005); Carlen Consulting Group; Leonard Miller and Phyllis Miller, Carlos Wagner and Ann Wagner, (CV 89-16010); Cecil Weber Casterline, (CV 89-16009); Scott Weber Casterline, (CV 89-16011); Robert Allen Church and Jessica Rae Church, (CV 89-16038); James E. Connolly and Coleen Ann Connolly, (CV 89-16039); Jack Cook, (CV 89-16014); Raymond E. Daoust and Barbara A. Daoust, (CV 89-21672); John Edward Didicher and Betty Jo Didicher, (CV 89-16042); Kenneth A. Dregseth and Nellie Dregseth, (CV 89-16044); Michael J. Dugan and Grace A. Dugan, (CV 89-16041); Joseph Kenneth Enright and Ann Adelaide Enright, (CV 89-16040); Esther R. Escobedo, (CV 89-16046); Jon V. Eylands and Barbara R. Eylands, (CV 89-16016); James Russell Feltham and Joellen Feltham, (CV 89-16036); Donald Ralph Fox and Mary Jane Fox, (CV 89-16022); William H. Fuller and Precilla Fuller, (CV 89-16035); Manuel S. Galaviz, (CV 89-16034); David Gambee, (CV 89-16033); Edward R. Geiger and Edri C. Geiger, (CV 89-21673); Geornan Investment; George Gary Shoemaker; and Nancy Howard Shoemaker, (CV 89-21674); Robert Ronald Glick, (CV 89-16032); Roger Goldburg and Deborah Jean Goldburg, (CV 89-16030); Gary F. Green and Mary M. Green, (CV 89-16023); Glenn R. Hawkes and Yvonne Hawkes, (CV 89-16019); Houston Partners, 1984B, a General Partnership, (CV 89-21667); Robert T. Johnson, (CV 89-16026); Jim C. Johnstonbaugh and Jan Johnstonbaugh, (CV 89-16025); Benjamin Kehela and Elaine Kehela, (CV 89-15985); Bruce D. Kelley, (CV 89-15965); Gerda E. Klipfel, (CV 89-21676); Alan David Lane and Haven A. Lane, (CV 89-15966); Willard Steven Leeper and Martha A. Leeper, (CV 89-15967); Thomas Longust and Jacqueline Longust, (CV 89-15969); George Michael Looney and Sandra Looney, (CV 89-15980); Samuel F. Louke and Phyllis Avidan Louke, (CV 89-15984); Harold L. McInturf and Mary Ellen McInturf, (CV 89-15961); Robert E. McKeon and Joan McKeon, (CV 89-15963); Earl L. Marsh, (CV 89-15960); Rex R. Oates and Brenda G. Oates, (CV 89-15995); Frank C. Orey and Cherry L. Orey, (CV 89-15958); Arthur Lory Rakestraw, (CV 89-16049); Kenneth M. Rich and Paula A. Rich, (CV 89-16050); Ann O. Richmond, (CV 89-16051); Edgar M. Rodriguez, (CV 89-16052); Gordon Patrick Rogers and Charlene Porter Rogers, (CV 89-15973); Robert Rubenzik and Helen Rubenzik, (CV 89-15977); Alice Sample, (CV 89-15955); David Louis Shank and Sylvia Louise Shank, (CV 89-15972); Susan Lovett Slama, (CV 89-21679); David S. Smith and Nina F. Smith, (CV 89-21680); Smith Family Trust; James Wilson Smith and Lavon D. Smith, (CV 89-15957); J. Lowell Stilson and Mary Lou Stilson, (CV 89-15954); Jack Stoller, (CV 89-15993); Joseph Coleman Streater and Maryann E. Streater, (CV 89-15994); James C. Thayer and Hope A. Thayer, (CV 89-15950); Gregory D. Vacca and Marsha A. Vacca, (CV 89-15952); Harry Carl Watters and Stacia Watters, (CV 89-21681); Jimmy Lee Wolfe and Beverly Ann Wolfe, (CV 89-15983); Lonnie R. Woods and Diane Kay Woods, (CV 89-15986), Defendants-Appellants.

Court of Appeals of Arizona, Division 1, Department E.

Review Denied February 26, 1997.


Attorney(s) appearing for the Case

Jon R. Pozgay, Ltd. by Jon R. Pozgay, Phoenix, for Defendants-Appellants.

Robbins & Green, P.A. by Brian Imbornoni, Phoenix, for Plaintiff-Appellee.

Federal Deposit Insurance Corp. by Maria Beatrice Valdez, Washington, DC, Pro Hac Vice, for Plaintiff-Appellee.


OPINION

PATTERSON, Judge.

This case involves the application of the doctrine derived from the U.S. Supreme Court's decision in D'Oench, Duhme & Co. v. Federal Deposit Ins. Corp., 315 U.S. 447, 62 S.Ct. 676, 86 L.Ed. 956 (1942), codified in 12 U.S.C. § 1823(e)1. This doctrine gives special protection to assets acquired by the Federal Deposit Insurance Corporation ("FDIC") that are...

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