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FDIC v. RHODES

No. 59309.

336 P.3d 961 (2014)

FEDERAL DEPOSIT INSURANCE CORPORATION, As Receiver for Community Bank of Nevada, Appellant, v. James M. RHODES, Respondent.

Supreme Court of Nevada.

October 30, 2014.

Attorney(s) appearing for the Case

Smith Larsen & Wixom and Michael B. Wixom and Katie M. Weber , Las Vegas, for Appellants.

Santoro Whitmire and Nicholas J. Santoro and Jason D. Smith , Las Vegas, for Respondent.

BEFORE THE COURT EN BANC.

OPINION

By the Court, SAITTA, J.:

Under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), appellant Federal Deposit Insurance Corporation (the FDIC) acts as a "conservator or receiver" for failed financial institutions. 12 U.S.C. § 1821(d)(2)(A) (2012). FIRREA extends the time period for the FDIC, in its capacity as the failed institution's conservator or receiver, to bring a contract claim that has otherwise...

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