Trustee Can’t Assert FDIC’s Claims 
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Published: January 7, 2013
Tags: 4th U.S. Circuit Court of Appeals, Bankruptcy, Judge G. Steven Agee
A bankruptcy trustee for debtor corporation whose principal asset, a bank, went into receivership with the FDIC, may not assert derivative claims against the corporate directors for breach of fiduciary duties, as these claims properly belong to the FDIC; however, the 4th Circuit says the trustee may assert a claim for improper subordination of debtor’s ...
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