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FIDATA TRUST CO. OF NEW YORK v. F.D.I.C.

No. 87 Civ. 3488 (VLB).

826 F.Supp. 105 (1993)

FIDATA TRUST COMPANY OF NEW YORK f/k/a Bradford Trust Company, v. FEDERAL DEPOSIT INSURANCE CORP., Defendant.

United States District Court, S.D. New York.

July 14, 1993.

Attorney(s) appearing for the Case

Louis J. Maione, New York City, for plaintiff Fidata.

Ira L. Hyams, Jericho, NY, for defendant F.D.I.C.

MEMORANDUM ORDER

VINCENT L. BRODERICK, District Judge.

I

The defendant Federal Deposit Insurance Corporation ("FDIC") as receiver of the Franklin National Bank sold the fiduciary business of Franklin to Bradford Trust Company, which is now Fidata Trust Company of New York ("Fidata") and the plaintiff in this case.

As part of the transaction, FDIC indemnified Fidata against "any and all claims ... based directly or indirectly upon any action...

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