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LaMAGNA v. F.D.I.C.

Civ. A. No. 93-0179.

828 F.Supp. 1 (1993)

Joseph C. LaMAGNA, Plaintiff, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Defendants.

United States District Court, District of Columbia.

July 14, 1993.

Attorney(s) appearing for the Case

Howard N. Cayne, Jeffrey C. Blutinger, Arnold & Porter, Washington, DC, for plaintiff.

Stuart E. Schiffer, Acting Asst. Atty. Gen., Jay B. Stephens, U.S. Atty., J. Christopher Kohn, Robert M. Hollis, Karen I. Meyer, Civil Div., Dept. of Justice, Washington, DC, for defendant.

MEMORANDUM OPINION

SPORKIN, District Judge.

Plaintiff, Joseph C. LaMagna, seeks enforcement of an employment agreement which the Federal Deposit Insurance Corporation ("FDIC") repudiated after being appointed receiver of Mr. LaMagna's former employer, the American Savings Bank ("American"). The agreement provided that if Mr. LaMagna was terminated without cause before the expiration of the one-year term, he would receive a lump-sum severance payment of ...

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