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Litigated Cases

FDIC v. Marine Midland Realty Credit Corp.

FDIC v. Marine Midland Realty Credit Corp., 17 F.3d 715 (4th Cir. 1994) (argued for FDIC) (in an action by FDIC as receiver of a bridge bank, holding that (i) the bridge bank assumed the liabilities of a failed bank under the failed bank's participation agreement, (ii) FDIC's claim as receiver for the bridge bank was a “legal claim” entitling it to a jury trial, and (iii) to the extent the failed bank owed money to the participating bank, liability was transferred to the bridge bank and retained by FDIC as receiver and, therefore, the doctrine of recoupment was available against FDIC to balance amounts owing).

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