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ADAGIO INV. HOLDING LTD. v. F.D.I.C.

No. CIV.A. 02-2550(ESH).

338 F.Supp.2d 71 (2004)

ADAGIO INVESTMENT HOLDING LTD., et al., Plaintiffs, v. FEDERAL DEPOSIT INSURANCE CORP. in its Corporate Capacity and as Receiver for the Connecticut Bank of Commerce, Defendants.

United States District Court, District of Columbia.

September 28, 2004.

Attorney(s) appearing for the Case

Jami Lynn Wyatt, Stephen S. Kaye, Vanessa Alison, Yelvington Chandler, Bryan Cave LLP, Washington, DC, Kathleen M. Kundar, Fox Horan & Camerini LLP, Marshall Beil, Mcguirewoods LLP, Barry Robert Fischer, Sprour Fischer & Mandell LLP, New York, NY, for Plaintiffs.

John Allen Davidovich, Federal Deposit Insurance Corporation, Washington, DC, for Defendants.

Alan Leonard Spear, Federal Deposit Insurance Corporation, Washington, DC, for Defendants and Claimant.

Julian Karpoff, Karpoff & Title, Arlington, VA, for Plaintiffs and Defendants.

MEMORANDUM OPINION

HUVELLE, District Judge.

Plaintiffs allege that defendant FDIC, acting as receiver for a failed bank ("FDIC-R"), wrongfully reclassified millions of dollars by sweeping funds out of their insured accounts on the day that bank failed. The effect of this reclassification was to deny several plaintiffs full insurance payments from co-defendant FDIC, acting in its corporate capacity as insurer of deposit accounts ("FDIC-C"), and to...

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