Federal Judge: FDIC's Removal Of Collection Suit Was Not Timely

Federal Judge: FDIC's Removal Of Collection Suit Was Not Timely

MACON, Ga. - A federal judge in Georgia on Dec. 12 remanded to a state court a promissory note collection suit brought by a bank that subsequently failed because the Federal Deposit Insurance Corp., which as the bank's receiver was substituted as the plaintiff, did not timely remove the suit from the state court to a federal court (Federal Deposit Insurance Corp. v. Sri Shakti Investments LLC, et al., No. 13-0356, M.D. Ga.; 2013 U.S. Dist. LEXIS 174972).

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