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McANDREWS v. NEW BANK OF NEW ENGLAND

Civ. A. No. 91-11229-T.

796 F.Supp. 613 (1992)

Edward D. McANDREWS, as Trustee of Iyanough Realty Trust, Plaintiff, v. NEW BANK OF NEW ENGLAND, N.A. and Federal Deposit Insurance Corporation, Defendants.

United States District Court, D. Massachusetts.

August 6, 1992.

Attorney(s) appearing for the Case

Edward Robert Wiest, Tarlow, Breed, Hart, Murphy & Rodgers, Boston, Mass., for plaintiff.

Robert P. Sherman, Widett, Slater & Goldman, Leila R. Kern, Kern, Sosman, Hagerty, Roach & Carpenter, Boston, Mass., for defendants.

MEMORANDUM

TAURO, Chief Judge.

Plaintiff Edward McAndrews, as Trustee of Iyanough Realty Trust, seeks a declaratory judgment that its leasing arrangement with the Bank of New England ("Bank") was terminated upon insolvency of the Bank. At issue is the constitutionality of a provision in the Financial Institutions Reform, Recovery and Enforcement Act of 1989 ("FIRREA"), 12 U.S.C. § 1821 et seq., that prevents a contracting party from terminating...

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