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FIRST SAV. AND LOAN INS. CORP. v. ALEXANDER

Civ. Nos. 82-0299, 82-0090.

590 F.Supp. 834 (1984)

FIRST SAVINGS AND LOAN INSURANCE CORPORATION, a federal corporation, Plaintiff, v. Denis D. ALEXANDER, Clifford K. Fujiwara, Glenn K. Okada, William E. Takabayashi, Richard A. Cooke, Jr., Michael Provan, and Henry K.F. Kersting, Defendants. FIRST HAWAIIAN BANK, Plaintiff, v. Denis D. ALEXANDER, Richard A. Cooke, Jr., Clifford K. Fujiwara, Glenn K. Okada, William E. Takabayashi, Henry K.F. Kersting, Michael Provan, and Paul Simplson, Defendants.

United States District Court, D. Hawaii.

July 9, 1984.

Attorney(s) appearing for the Case

Steven H. Levinson, Diane D. Hastert, Honolulu, Hawaii, for plaintiffs.

Alexander C. Marrack, Honolulu, Hawaii, for Richard A. Cooke, Jr.

John A. Chanin, Honolulu, Hawaii, for Clifford K. Fujiwara.

Walter G. Chuck, W. Gregory Chuck, Honolulu, Hawaii, for Glenn K. Okada and William E. Takabayashi.

Thomas P. Dunn, Honolulu, Hawaii, for Henry K.F. Kersting.

George W. Brandt, Gail M. Kang, Lyons, Hagerman & Brandt, Honolulu, Hawaii, for Denis D. Alexander.

OPINION AND ORDER

PENCE, District Judge.

On February 25, 1980, the State of Hawaii placed First Savings and Loan Association ("First Savings") in receivership. The Federal Home Loan Bank Board ("FHLBB") federalized that receivership and appointed the Federal Savings and Loan Insurance Corporation ("FSLIC") as receiver. Pursuant to that receivership, FSLIC sold the assets and liabilities of First Savings to First Federal Savings and Loan Association ("First...

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