(DOWNLOAD) "Woods v. Federal Home Loan Bank Board" by United States Court of Appeals for the Fifth Circuit # Book PDF Kindle ePub Free
eBook details
- Title: Woods v. Federal Home Loan Bank Board
- Author : United States Court of Appeals for the Fifth Circuit
- Release Date : January 27, 1987
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 79 KB
Description
CLARK, Chief Judge: This consolidated appeal involves the appointment by the Federal Home Loan Bank Board (Bank Board) of the Federal Savings and Loan Insurance Corporation (FSLIC) as receiver for Western Savings Association (Western) on September 12, 1986. The Bank Board determined that Western (1) was insolvent, (2) had suffered substantial dissipation of assets due to violations of regulations and unsafe or unsound practices by its management, and (3) was in an unsafe and unsound condition to transact business. See Home Owners' Loan Act, 12 U.S.C. § 1464(d)(6)(A)(i), (ii), and (iii). Plaintiffs filed suit in the district court, seeking removal of the receiver and interim injunctive relief to restrain the receiver from transferring any of Western's assets. The district court immediately denied plaintiffs' request for an injunction. After review of the administrative record and consideration of the parties' arguments, the district court granted the Bank Board's motion for summary judgment, finding no genuine issue of material fact as to whether the decision to appoint the receiver was supported by the administrative record, was not arbitrary or capricious, and was based on three enumerated statutory grounds. Plaintiffs appealed both rulings, and this court consolidated the appeals.