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
SocialSecurity Securities Immigration
Does the D'Oench doctrine or federal common law 'holder in due course' doctrine survive FIRREA?
QUESTIONS PRESENTED 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?