NATIONAL CREDIT UNION v. BARCLAYS CAPITAL INC.

No. 13-3183.

785 F.3d 387 (2015)

NATIONAL CREDIT UNION ADMINISTRATION BOARD, Plaintiff-Appellant, v. BARCLAYS CAPITAL INC.; BCAP LLC; Securitized Asset Backed Receivables LLC, Defendants-Appellees. Federal Deposit Insurance Corporation; Securities Industry and Financial Markets Assocation, Amici Curiae.

United States Court of Appeals, Tenth Circuit.

March 3, 2015.


Attorney(s) appearing for the Case

David C. Frederick of Kellogg, Huber, Hansen, Todd, Evans & Figel, Washington, D.C. ( Wan J. Kim and Gregory G. Rapawy , Kellogg, Huber, Hansen, Todd, Evans & Figel, Washington, D.C.; George Zelcs , Korein Tillery, Chicago, IL; Michael J. McKenna , General Counsel, and John K. Ianno , Associate General Counsel, National Credit Union Administration, with him on the briefs) for Plaintiff-Appellant.

Jeffery T. Scott of Sullivan & Cromwell, New York, N.Y. ( David H. Braff and J. Brendan Day, Sullivan & Cromwell, New York, N.Y.; Michael J. Abrams , Lathrop & Gage, Kansas City, MO, with him on the brief) for Defendants-Appellees.

Jerome A. Madden , Counsel ( Colleen J. Boles , Assistant General Counsel; Kathryn R. Norcross , Senior Counsel, with him on the brief), filed an amicus curiae brief for the Federal Deposit Insurance Corporation in support of Plaintiff-Appellant.

Michael J. Dell of Kramer, Levin, Naftalis & Frankel, New York, N.Y. ( Aaron M. Frankel of Kramer, Levin, Naftalis & Frankel, New York, N.Y.; and Ira D. Hammerman and Kevin Carroll of Securities Industry and Financial Markets Association, Washington, D.C. with him on the brief), filed an amicus curiae brief for the Securities Industry and Financial Markets Association in support of Defendants-Appellees.

Before BRISCOE, Chief Judge, EBEL and PHILLIPS, Circuit Judges.


The National Credit Union Administration Board ("NCUA"), the plaintiff-appellant, appeals the district court's order dismissing as untimely its complaint against Barclays Capital Inc., BCAP LLC, and Securitized Asset Backed Receivables LLC (collectively "Barclays"), the defendant-appellees. We REVERSE and REMAND.

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