Federal Deposit Insurance Corporation, as Liquidator for Century Bank (Movant) v. Ludwig Family Trust, Debtor, and Ralph McDonald Chapter 11 Trustee, Trustee-Appellee

8 F.3d 26 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. FEDERAL DEPOSIT INSURANCE CORPORATION, as Liquidator for Century Bank (movant), Appellant, v. LUDWIG FAMILY TRUST, Debtor, and Ralph McDonald, Chapter 11 Trustee, Trustee-Appellee. No. 92-16842. United States Court of Appeals, Ninth Circuit. Submitted May 14, 1993. * Decided Sept. 17, 1993. Before: BROWNING, CHOY, and CANBY, Circuit Judges. MEMORANDUM ** Whether the extension agreement releases FDIC's interest in the Happy Valley property is a question of federal law. See FDIC v. Zook Bros. Constr. Co., 973 F.2d 1448, 1450-51 (9th Cir.1992). Because the extension agreement does not explicitly release the Happy Valley property, it cannot have that effect against FDIC. See id. at 1451 . Under 12 U.S.C. § 1823 (e), the absence of an explicit writing also bars reliance on the extension agreement to diminish FDIC's interest in the properties. See Zook, 973 F.2d at 1450-52 ; cf. FSLIC v. Gemini Management, 921 F.2d…