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Sunday, June 23, 2024 | Back issues
Courthouse News Service Courthouse News Service

Federal Circuit

CORPORATIONS - A merged institution was seized and liquidated for failure to comply with regulatory capital requirements of the Financial Institutions Reform, Recover, and Enforcement Act. Mola Development Corp. owned a controlling interest in the institution. The Federal Circuit affirmed dismissal of Mola's claim that a surplus of more than $6.2 million net income from the liquidation of its institution was taken by the government.

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