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by techlover14159
1192 days ago
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Bank insolvency is not handled by courts. FDIC has sole and complete control of bank insolvencies. FDIC is the receiver or conservator for handling bank insolvencies by law. FDIC doesn't claw back bank transactions that have "settled". So if you wire cleared, you are good for the money. Search for "FDIC Discretion Without Ongoing Judicial Oversight" in the document below No ongoing judicial oversight Pursuant to Section 11(d)(13)(D) of the FDI Act, except
as otherwise provided, no court has primary jurisdiction over any claims or action for payment
from, or actions seeking a determination with regards to, an institution for which the FDIC has
become a receiver. Further this provision also limits courts’ ability to engage in a review of any
claims relating to acts or omissions of the institution or the FDIC as receiver. Under Section
11(d)(13)(C) of the FDI Act, no court may issue an attachment or execution over the assets that
are in the possession of the FDIC as receiver. https://corpgov.law.harvard.edu/wp-content/uploads/2008/10/0... |
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