Meritage Homes of Nevada v. FDIC

This case arose when Meritage submitted an administrative claim to the FDIC. The FDIC disallowed Meritage's administrative claim and Meritage then filed suit. Meritage obtained a default judgment against the FDIC and the FDIC provided Meritage with a receiver's certificate in the amount of the judgment. The FDIC also filed with the district court a Satisfaction of Judgment. Meritage sought to have the district court strike the FDIC's Satisfaction of Judgment and instead direct the FDIC to pay the judgment in cash. Subsequently, on appeal, Meritage challenged the district court's judgment and challenged orders denying its motion to strike or, in the alternative, issue a summons to certain third parties to this action and denying its motion for reconsideration. The court held that the district court's denial of Meritage's request for a summons was to be reviewed for clear error. On the merits, the court held that the district court did not abuse its discretion in ruling that the receiver's certificate satisfied the judgment against the FDIC. The court also held that the district court did not commit clear error in declining to issue a summons to Rescon and Stearns. Accordingly, the court affirmed the judgment of the district court. View "Meritage Homes of Nevada v. FDIC" on Justia Law