Sajovich
Federal Sav. and Loan Ins. Corp. v. Sajovich
Opinion
Opinion
Keller, J.
ORDER RE MOTION TO DISMISS
The Federal Savings and Loan Insurance Corporation (hereafter “FSLIC”) was appointed sole conservator of the property and assets of Manhattan Beach Savings and Loan Association (hereafter “Manhattan Beach”) by the Federal Home Loan Bank Board on January 9,1986. FSLIC, in its capacity as conservator, brought this action in federal court against the directors of Manhattan Beach, as well as two independent corporations, alleging causes of action for breach of fiduciary duty, negligence, and money had and received in connection with various transactions that contributed to Manhattan’s financial difficulties.
This matter is presently before the Court on the Motion of defendant Peter Sajovich to Dismiss the action for lack of subject matter jurisdiction. Having considered the submitted materials and the arguments of counsel at the February 4, 1986, hearing, the Court hereby Orders that defendant’s Motion to Dismiss is DENIED. This Order is based on the following considerations:
1. The present Motion concerns an issue of statutory interpretation. The statute in question, appearing - at Title 12, Section 1730(k)(l) of the United States Code, addresses the…