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FIRST PACIFIC BANCORP, INC. v. HELFER

Nos. 98-55634, 98-56942.

224 F.3d 1117 (2000)

FIRST PACIFIC BANCORP, INC., Ada P. Sands, Michael Zugsmith, and Leonard S. Sands, Plaintiffs-Appellants, v. Ricki HELFER, Chairman, Federal Deposit Insurance Corp., Federal Deposit Insurance Corporation as Receiver for First Pacific Bank, and Federal Deposit Insurance Corporation in its Corporate capacity, Defendants-Appellees. First Pacific Bancorp, Inc., Plaintiff-Appellant, v. Federal Deposit Insurance Corporation, Receiver for First Pacific Bank, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Filed August 8, 2000.

Attorney(s) appearing for the Case

Bancorp I: Leonard S. Sands, Sands & Sands, Los Angeles, California, for the plaintiffs.

Ann S. Duross, Colleen J. Boles, Thomas C. Bahlo, Washington, D.C., for Federal Deposit Insurance Corporation.

Bancorp II: Leonard S. Sands, Sands & Sands, Los Angeles, California, for the plaintiffs.

Before: TROTT and FLETCHER, Circuit Judges, and MOLLOY, District Judge.

BACKGROUND

MOLLOY, District Judge:

Plaintiff First Pacific Bancorp, Inc. ("Bancorp"), a Delaware corporation, is a one-bank holding company and the sole shareholder of First Pacific Bank ("the Bank"). Plaintiffs Ada P. Sands, Leonard S. Sands and Michael Zugsmith are shareholders of Bancorp.

On August 7, 1990, the California Department of Banking appointed the Federal Deposit Insurance Corporation ("FDIC...

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