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GOLDEN PACIFIC BANCORP. v. F.D.I.C.

Docket No. 03-6194.

375 F.3d 196 (2004)

GOLDEN PACIFIC BANCORP, for its own account and derivatively on behalf of and in the name of Golden Pacific National Bank, Plaintiff-Appellant, Golden Pacific Bancorp, Counter-Defendant-Appellant, v. FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity and in its capacity as receiver for Golden Pacific National Bank, Defendant-Appellee, Federal Deposit Insurance Corporation, Counter-Claimant.

United States Court of Appeals, Second Circuit.

Decided: July 14, 2004.

Attorney(s) appearing for the Case

Elliot H. Scherker, Greenberg Traurig, P.A., (Julissa Rodriguez, Greenberg Traurig, P.A., Miami, FL, Tucker Byrd, Greenberg Traurig, P.A., Orlando, FL, Simon Miller, Greenberg Traurig, LLP, New York, NY, and Paul A. Batista, New York, NY, on the brief), Miami, FL for Appellant.

Lawrence S. Hirsch, Thelen, Reid & Priest (Ann S. DuRoss, Colleen J. Boles, J. Scott Watson, and Alan L. Spear, Washington, D.C., on the brief), New York, New York, for Appellee.

Before: MINER and RAGGI, Circuit Judges, and MARRERO, District Judge.

MARRERO, District Judge.

This lawsuit arises from the Federal Deposit Insurance Corporation's ("FDIC") June 1985 liquidation of the Golden Pacific National Bank (the "Bank"), which was based in Manhattan's Chinatown neighborhood. The Bank's holding company, plaintiff Golden Pacific Bancorp ("Bancorp"), alleges that the FDIC should never have liquidated the Bank in the first place, and, to make matters worse, that the FDIC chose the most expensive liquidation method...

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