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FEDERAL DEPOSIT INS. CORP. v. WH VENTURE

Civ. A. No. 84-5673.

607 F.Supp. 473 (1985)

FEDERAL DEPOSIT INSURANCE CORPORATION and Continental Illinois National Bank and Trust Company of Chicago v. WH VENTURE v. HALL MANAGEMENT CORPORATION, Hall Real Estate, Inc., and Hall Real Estate Group.

United States District Court, E.D. Pennsylvania.

April 15, 1985.

Attorney(s) appearing for the Case

Arthur R. Littleton, Frank A. Labor, III, Morgan, Lewis & Bockius, John C. Murphy, Jr., Gen. Counsel, Daniel W. Persinger, Douglas H. Jones, Deputy Gen. Counsels, Philadelphia, Pa., for Federal Deposit Ins. Corp.

Judah I. Labovitz, Philadelphia, Pa., Richard Levy, Chicago, Ill., for Continental Illinois Nat. Bank & Trust.

Steven A. Arbittier, Philadelphia, Pa., for WH Venture.

MEMORANDUM AND ORDER

JAMES McGIRR KELLY, District Judge.

Presently before the court is WH Venture's motion to dismiss the plaintiff, Federal Deposit Insurance Corporation (FDIC) as a party to this action. The defendant seeks to challenge the statutory validity of the FDIC's action to infuse $4.5 billion in permanent financial assistance to the ailing and financially troubled Continental Illinois National Bank and Trust Company of Chicago. Upon careful consideration...

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