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Gts 900 F, LLC, A California Limited Liability Company v. Federal Deposit Insurance Corporation

UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA WESTERN DIVISION


June 27, 2012

GTS 900 F, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY, PLAINTIFF,
v.
FEDERAL DEPOSIT INSURANCE CORPORATION, ET AL., DEFENDANTS.

The opinion of the court was delivered by: Judge: The Hon. John A. Kronstadt

JUDGMENT

Date: April 23, 2012

Time: 8:30 a.m.

Courtroom: 750

Date Action Filed: August 11, 2011

Trial Date: None Set

This matter came before this Court on the Motion of Defendants Federal Deposit Insurance Corporation and Robert T. Feldman, in his official capacity as Executive Secretary (collectively the "FDIC") for Summary Judgment. This Court conducted hearings on the Motion on January 9, 2012, and after supplemental briefing, on April 23, 2012. Jerome A. Madden, Tina A. Lamoreaux and Anne M. Devens appeared on behalf of the FDIC; Gary Ganchrow appeared on behalf of GTS 900 F, LLC. On June 1, 2012, this Court entered an Order Granting Defendants' Motion for Summary Judgment.

THIS COURT HEREBY FINDS THAT good cause exists to allow the FDIC to supplement the Administrative Record.

THIS COURT HEREBY FURTHER FINDS THAT the FDIC's determination, as published in the Federal Register (76 Fed. Reg. 28225) (May 16, 2011) (the "Insufficient Assets Determination") in the receivership of the former Corus Bank, N.A., Chicago, Illinois, was not arbitrary or capricious, did not constitute an abuse of discretion, and was made in accordance with applicable law.

NOW, THEREFORE, IT IS HEREBY ORDERED, ADJUDGED AND DECREED that Judgment be entered in favor of the FDIC and against GTS 900 F, LLC, such that GTS 900 F, LLC's Complaint is hereby dismissed with prejudice and that the Insufficient Assets Determination is hereby affirmed.

U.S. DISTRICT COURT JUDGE

APPROVED AS TO FORM

20120627

© 1992-2012 VersusLaw Inc.



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