United States Second Circuit

In an action for breach of an insurance contract, summary judgment for defendant is affirmed where the district court erred in ruling that the fidelity bond at issue was not an "asset" under 12 U.S.C. section 1823(e), but to honor the FDIC's position and allow it to recover would effectively strike the rescission clause from the bond.

Appellate Information

• Argued 11/16/2009
• Decided 06/07/2010
• Published 06/07/2010

Judges

• KEENAN, District Judge:, Before POOLER and WESLEY, Circuit Judges, and KEENAN, District Judge.

Court

• United States Second Circuit

Counsel

• For Appellees:
  
• Kyle M. Keegan, Christopher D. Kiesel, Roy, Kiesel, Keegan & DiNicola, PLC, Baton Rouge, LA; John B. Hughes, Assistant United States Attorney, for Nora R. Dannehy, Acting United States Attorney for the District of Connecticut; Lawrence H. Richmond, Jaclyn C. Taner, Federal Deposit Insurance Corporation, Arlington, VA, for Plaintiff-Counter-Defendant-Appellant., F. Joseph Nealon (Jennifer E. Lattimore on the brief), Eckert Seamans Cherin & Mellott, LLC, Washington, DC; Margaret Little, Little & Little, Stratford, CT, for Defendant-Counterclaimant-Appellee.