FDIC Extender Statute Preempts All Limitations Periods, 5th Circuit Rules
Mealey's (August 13, 2015, 2:46 PM EDT) -- HOUSTON — The Federal Deposit Insurance Corp. Extender Statute “preempts all limitations periods,” including statutes of limitation and statutes of repose, a Fifth Circuit U.S. Court of Appeals panel ruled Aug. 10 in reversing and remanding (Federal Deposit Insurance Corp. v. RBS Securities Inc., et al., No. 14-51055, 5th Cir.; 2015 U.S. App. LEXIS 13985).
(Opinion in Section D. Document #57-150817-065Z.)
The FDIC, as receiver for Guaranty Bank, sued RBS Securities Inc., Goldman, Sachs & Co. and Deutsche Bank Securities Inc. in the 201st Judicial District...