2974 Properties, Inc. v. Resolution Trust Corp.

I.

Introduction

This is an appeal by the Resolution Trust Corporation (RTC), as receiver of Far West Federal Bank of Portland, Oregon (Far West), from an order granting summary judgment to plaintiffs entered by the Honorable Charles C. Lee of the Los Angeles County Superior Court. In an unpublished memorandum opinion filed on August 24, 1993, this court reversed the judgment, ordering the trial court to enter an order of dismissal against, respondents for lack of subject matter jurisdiction. After this court denied a petition for rehearing, respondents filed a petition for review in the California Supreme Court. The Supreme Court by order filed on December 2, 1993, granted review and transferred the case to this court with directions to vacate our decision and to prepare and refile an opinion that meets the requirements of article VI, section 14 of the California Constitution. Accordingly, we vacated our memorandum opinion, granted leave for the parties to file supplemental briefs and set the matter for oral argument on March 3, 1994.

II.

Contentions

The appeal is based on two principal contentions:

III.

Factual and Procedural Background

The action from which this…