THE BANK OF NEW YORK v. F.D.I.C.

Civil Action No. 03-1221(ESH).

453 F.Supp.2d 82 (2006)

THE BANK OF NEW YORK, Plaintiff, v. FEDERAL DEPOSIT INSURANCE COMPANY, Defendant.

United States District Court, District of Columbia.

September 27, 2006.


Attorney(s) appearing for the Case

Paul F. Brinkman, Alston & Bird LLP, Washington, DC, Jack P. Smith, III, Alston & Bird LLP, Atlanta, GA, for Plaintiff.

Dennis Sanford Klein, Scott H. Christensen, Hughes Hubbard & Reed LLP, Washington, DC, George A. Davidson, Hughes Hubbard & Reed LLP, New York, NY, for Defendant.


MEMORANDUM OPINION

HUVELLE, District Judge.

The Bank of New York ("BNY"), indenture trustee for the interests of investors who purchased asset-backed securities from a trust established by the now-defunct NextBank, N.A. ("NextBank"), is suing the Federal Deposit Insurance Corporation ("FDIC") for conversion based on actions the agency took as NextBank's receiver. Five of BNY's original six counts have been dismissed. Count VI, the sole remaining claim...

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