Federal Savings and Loan Insurance Corporation v. Sahni

868 F.2d 1096 FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION as Conservator for American Diversified Savings Bank; American Diversified Capital Corporation; American Diversified Investment Corporation, Plaintiffs-Appellants, v. Ranbir S. SAHNI; Judy Day, et al., Defendants, and Lester G. Day, Defendant-Appellee. No. 87-6102. United States Court of Appeals, Ninth Circuit. Argued and Submitted Oct. 31, 1988. Memorandum Filed Nov. 25, 1988. Decided March 1, 1989. Theodore Russell, Pettit & Martin, San Francisco, Cal., for plaintiffs-appellants. Marc Alexander, McKittrick, Jackson, DeMarco & Peckenpaugh, Newport Beach, Cal., for defendants-appellees. Appeal from the United States District Court for the Central District of California. Before WRIGHT, NORRIS and WIGGINS, Circuit Judges. PER CURIAM: 1 This is an appeal under 28 U.S.C. Sec. 1292 (a)(1) from a district court's denial of preliminary injunctive relief on behalf of FSLIC against the former president of a bank determined to be insolvent. We reverse. 2 FSLIC, as conservator of the American Diversified Savings Bank, seeks a preliminary injunction freezing the assets of the bank's president Lester Day, who is the defendant…