Florida/Georgia Personal Injury & Workers Compensation

...BACKGROUND On or about August 31, 1986, Bayshore entered into two lease agreements with Bayshore Bank (“Bank”). These agreements were to run for a period of approximately seven years. On August 7, 1987, the Bank was declared insolvent by the Comptroller of the State of Florida. Pursuant to FLA.STAT. § 658.80 (1989), the Comptroller named the FDIC as liquidator of the Bank and shortly thereafter, the FDIC accepted the appointment....

...However, state and national banks in the United States are also not liquidated by Courts but by insuring regulatory agencies such as the Federal Savings and Loan Insurance Corporation and the Federal Deposit Insurance Corporation. See, e.g., 12 U.S.C. § 1729; 12 U.S.C. § 1821; and Fla. Stat. § 658.80(2)....

...B. Iberiabank brought this declaratory judgment action in the District Court for 3 The Florida Office of Financial Regulation took possession of Orion and appointed the FDIC as receiver pursuant to Fla. Stat. §§ 658.79, 658.80, and 658.81 (2009). Under § 658.79, the Office of Financial Regulation may designate a receiver to take charge of the assets and affairs of a bank “[w]henever the office has reason to conclude, based upon the reports furnished to it by a state bank or trust company examiner or upon other satisfactory evidence, that any state bank or trust company: (1) Is insolvent or imminently insolvent.” Under § 658.80(2), “[t]he Federal Deposit Insurance Corporation or any appropriate federal agency shall be appointed by the office as receiver or liquidator of any state bank, the deposits of which are to any extent insured by the corporation.”...