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Resolution Trust Corp. v. Fleischer

826 F. Supp 1273 (1993)

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Resolution Trust Corp. v. Fleischer

United States District Court for the District of Kansas
826 F. Supp 1273 (1993)

  • Written by Robert Cane, JD

Facts

The directors (defendants) of Franklin Savings Association (Franklin) made dividend payments. At the time the dividend payments were made, Franklin had a negative net worth based on its fair market value. Resolution Trust Corporation (Resolution) (plaintiff) sued Franklin’s directors, alleging that the dividend payments were unlawful because capital, net worth, and earnings must be determined based on fair market value before a company may pay dividends. The directors filed a motion to dismiss or, in the alternative, for summary judgment in the district court.

Rule of Law

Issue

Holding and Reasoning (Lungstrum, J.)

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