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COIT INDEPENDENCE JOINT VENTURE v. FSLIC

No. 87-996.

489 U.S. 561 (1989)

109 S.Ct. 1361

103 L.Ed.2d 602

COIT INDEPENDENCE JOINT VENTURE v. FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, AS RECEIVER OF FIRSTSOUTH, F. A.

Supreme Court of United States.

Decided March 21, 1989

Attorney(s) appearing for the Case

Robert E. Goodfriend argued the cause for petitioner. With him on the briefs was Paul E. Galvin.

Jeffrey P. Minear argued the cause for respondent. With him on the brief were Solicitor General Fried and Deputy Solicitor General Cohen.*

Kenneth S. Geller and Kathryn A. Oberly filed a brief for the Federal Home Loan Bank of Dallas et al. as amici curiae urging affirmance.

Kathleen E. Topelius and Wendy B. Samuel filed a brief for the National Council of Savings Institutions as amicus curiae.

JUSTICE O'CONNOR delivered the opinion of the Court.

This case presents the question whether Congress granted the Federal Savings and Loan Insurance Corporation (FSLIC), as receiver, the exclusive authority to adjudicate the state law claims asserted against a failed savings and loan association. We hold that Congress did not grant FSLIC such power and that the creditors of a failed savings and loan association are entitled to de novo consideration of their...

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