Judith Thomas-Lazear Steven R. Reed European Overseas Bank Limited v. Federal Bureau of Investigation, and John Shockey Robert Kilbane

Thomas-Lazear, Reed, and European Overseas Bank, Ltd. (EOBL) appeal summary judgment for federal defendants Shockey and Kilbane in their Bivens action. Appellants contend that federal officials conspired to defame them by making false statements to banking officials in the Mar shall Islands, leading to a denial of their request for an extension of their banking license in violation of due process. The district court granted summary judgment on the ground that the Appellants had no liberty or property interest in the bank license and alternatively the United States federal officials were entitled to qualified immunity. We affirm.

BACKGROUND

In June 1984, Judith Thomas-Lazear and Steven Reed purchased EOBL from the W.F.I. Corporation under an agreement providing that if the Government of the Marshall Islands changed its banking laws “during the pendency of an application or after the purchase of the Bank” such change would be binding on the purchaser and not grounds for rescission.

In December 1984, the Republic of the Marshall Islands adopted emergency OffShore Banking Rules and Regulations which provided that licenses issued under the old rules would expire on February 28,…