California Bank & Trust v. Piedmont Operating Partnership

“In 1989, Congress enacted the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, which is often referred to by the acronym FIRREA, and is codified at title 12 United States Code section 1821 (d) . . . .” (Neman v. Commercial Capital Bank (2009) 173 Cal.App.4th 645, 648 [ 92 Cal.Rptr.3d 800 ].) FIRREA “was designed to provide for takeovers of failed federally insured banking institutions” and “to provide a smooth mechanism for the rehabilitation” of such institutions and for the disposal of claims against them. (Neman, at p. 648.) “. . . FIRREA is a public program that adjusts the benefits and burdens of economic life to promote the common good. [Citations.]” (Resolution Trust Corp. v. Ford Motor Credit Corp. (11th Cir. 1994) 30 F.3d 1384, 1389 .) It “alters contractual rights ‘in order to stem the disruption of banking services within communities, lessen the costs of bank liquidation, and restore public confidence in the nation’s banking system.’ ” (Ibid.) So, on the one hand, a landlord who leases premises to a bank takes the risk that the bank may fail and FIRREA may limit his or her remedies with respect to any damages suffered due to the bank’s…