FDIC, As Receiver For Failed Bank, Earns Judgment In Loan Suit

FDIC, As Receiver For Failed Bank, Earns Judgment In Loan Suit

DETROIT - A federal judge in Michigan on Sept. 18 granted the Federal Deposit Insurance Corp.'s motion for summary judgment in a dispute involving a loan made by a bank before it failed and was placed into FDIC receivership, overruling a borrower's objections and denying his motion to dismiss (Federal Deposit Insurance Corp. v. David McCann, No.10-14962, E.D. Mich.; 2013 U.S. Dist. LEXIS 133085).

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