In Re Bank of San Marino
Federal Deposit Insurance v. Bank of San Marino
Opinion
Opinion
Lui, J.
SUMMARY
In the late afternoon of April 8, 1983, a petition was filed by the respondent Federal Deposit Insurance Corporation (FDIC) seeking to have the superior court approve the sale of certain assets and the transfer of certain liabilities of the appellant Bank of San Marino (Bank) to Trans American National Bank (Trans American). The court directed that the FDIC give telephonic notice to the president of the Bank and its counsel, after 6 p.m., that a hearing would be convened on the petition at 8 p.m.
Following the hearing which began at 8:20 p.m. in which the Bank was not represented, the superior court entered an order approving the sale of certain assets and the transfer of certain liabilities of the Bank to Trans American. The Bank filed a timely appeal from said order. We affirm.
Facts and Procedural History
On and prior to April 8, 1983, the Bank was a state-chartered banking corporation regulated by the Superintendent of Banks for the State of California. Its principal place of business was in Los Angeles.
On the evening of Friday, April 8, 1983, at 6:03 p.m., Acting Superin tendent Harold D. Doyle (Superintendent), proceeding pursuant to California…