FEDERAL DEPOSIT INSURANCE CORPORATION AS RECEIVER FOR FIRST COMMERCIAL BANK OF FLORIDA, APPELLANT,
v.
FLEET CREDIT CORPORATION, APPELLEE
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PER CURIAM.
We reverse the summary judgment entered in favor of a garnishor on a claim that its judgment lien was superior to the garnishee-bank’s security interest in a certificate of deposit pledged by its customer as security for a loan. Without reaching the merits, we conclude that the circuit court was without subject matter jurisdiction over the case after the bank was declared insolvent and the Federal Deposit Insurance Corporation appointed as receiver. See FDIC v. Shain, Schaffer & Rafanello, 944 F. 2d 129, 132 (3d Cir.1991) (federal statutory framework provides exclusive remedy for claims against the assets of a failed bank).
We held accordingly, in Department of Ins. v. FDIC, 610 So. 2d 695, 696 (Fla. 3d DCA1992), that claims against a failed bank, after the FDIC has been appointed receiver, “must be commenced or continued in the United States District Court for the district within which the depository institu tion’s principal place of business is located or in the United States District Court for the District of Columbia. 12 U.S.C. § 1821(d)(6)(A) (1989 & Supp.1992).”
Reversed and remanded for further consistent proceedings.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Cited By
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Haire v. Overseas Holdings Ltd. P'ship, 908 So. 2d 580 (Fla. 2d DCA 2005)…each. Only the federal district court could decide issues affecting that receivership asset. See Riehle, 279 U.S. at 223, 49 S.Ct. 310; Fed. Sav. & Lorn Ins. Corp. v. PSL Realty Co., 630 F. 2d 515, 521 (7th Cir.1980); F.D.I.C. v. Fleet Credit Corp., 616 So. 2d 488 (Fla. 3d DCA 1993). The trial court could not do so. In the final analysis, the trial court’s final judgment concluded correctly that rescission was unavailable to Mr. Haire. We reverse the trial court’s August 24, 2004, order and remand for reinst…
Authorities Cited
- Fed. Deposit Ins. Corp. for Mountain Ridge State Bank v. Shain, 944 F.2d 129 (3d Cir. 1991)
- State v. Fed. Deposit Ins. Corp., 610 So. 2d 695 (Fla. 3d DCA 1992)