Mealey's Banking & Finance - 9th Circuit: Complaint Against FDIC Was Not Timely

Mealey's Banking & Finance - 9th Circuit: Complaint Against FDIC Was Not Timely

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on April 14 affirmed the dismissal of a limited liability corporation's suit alleging that a bank and the Federal Deposit Insurance Corp., as its receiver, breached a construction loan contract, ruling that the corporation's failure to exhaust its administrative remedies cannot be excused by the FDIC's failure to mail notice or publish in newspapers information about the administrative claims deadline (Westwind Meranto LLC v. Federal Deposit Insurance Corp., No. 12-15962, 9th Cir.; 2014 U.S. App. LEXIS 6885).

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