District Court, N.D. Ohio April 9, 1993, 1:91CV2597 (Federal Deposit Insurance v. Del Bates)

MEMORANDUM OF OPINION AND ORDER

MATIA, District Judge.

The Federal Deposit Insurance Corporation (“FDIC”) brings this action as manager of the FSLIC Resolution Fund against the former officers and directors of Cardinal Federal Savings Bank (“Cardinal”). Pursuant to appropriate resolution and agreement, all Cardinal capital stock was acquired by First Nationwide Financial Corp.