Mealey's Banking & Finance - FDIC's Involvement Leads To Dismissal Of Loan Suit

DALLAS - A federal judge in Texas on Feb. 24 dismissed a suit arising from the alleged default on promissory notes issued by a bank that subsequently failed, finding that "complete diversity is destroyed" because of the Federal Deposit Insurance Corp.'s involvement (Eagle TX I SPE LLC v. Sharif & Munir Enterprises Inc., et al., No. 13-2565, N.D. Texas; 2014 U.S. Dist. LEXIS 23138).

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