No. 20-246
Stephen B. Pence, et al. v. VNB New York, LLC, as Successor by Merger to VNB New York Corporation, as Successor in Interest to the Park Avenue Bank
Tags: banking banking-regulation d'oench-doctrine defenses federal-common-law financial-institutions-reform firrea fraud holder-in-due-course statutory-interpretation
Latest Conference:
2020-10-30
Question Presented (from Petition)
Does the D'Oench doctrine, D'Oench, Duhme & Co. v. FDIC, 315 U.S. 447 (1942), or federal common law "holder in due course" doctrine, survive Congress' enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Pub. L. 101-73, 103 Stat. 183?
Under 12 U.S.C. § 1823(e)(1), may an innocent victim of fraud assert state law fraud or illegality defenses where, as here, a successor bank sues on loans it knew at the time of purchase to be fraudulent?
Question Presented (AI Summary)
Does the D'Oench doctrine or federal common law 'holder in due course' doctrine survive FIRREA?
Docket Entries
2020-11-02
Petition DENIED. Justice Barrett took no part in the consideration or decision of this petition.
2020-10-14
DISTRIBUTED for Conference of 10/30/2020.
2020-08-26
Attorneys
Stephen B. Pence, et al.
Stephen Beville Pence — Pence & Whetzel, PLLC, Petitioner