Gushi Brothers Company Chuji G. Chutaro Beverly L. Chutaro v. Bank of Guam

Opinion by Judge BEEZER.

The Bank of Guam (“Bank”) challenges the district court’s denial of its motion for judgment as a matter of law or, alternatively, a new trial pursuant to Fed.R.Civ.P. 50(b) as to Gushi Brothers’ (“the Chutaros”) claim for violation of the Bank Holding Company Act, 12 U.S.C. §§ 1971-1978 . The Bank contends that the court used an improper legal standard and that there was insufficient evidence to support the verdict in the Chutaros’ favor. The Bank also challenges the district court’s exclusion of the deposition of its branch manager, Droteo Espangel, who died prior to trial. We have jurisdiction pursuant to 28 U.S.C. § 1291 . Because we conclude that the district court lacked subject matter jurisdiction over this claim, we do not address the merits of the Bank’s appeal. We remand with instructions to the district court to vacate the judgment and the resulting award of costs and fees.

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Gushi Brothers is a proprietorship registered in the Republic of the Marshall Islands. Gushi Brothers is primarily engaged in wholesale and retail sales and is owned and managed by Chuji and Beverly Chutaro. The Chutaros maintained a commercial account under the Gushi…