9th Circ. Asked To Weigh In On FDIC Citizenship

Law360, New York (June 22, 2012, 6:41 PM ET) -- An affiliate of homebuilder Lennar Corp. asked the Ninth Circuit Wednesday to review a lower court's ruling that it did not have diversity jurisdiction over a $13 million construction loan involving the Federal Deposit Insurance Corp. because the FDIC is not considered a citizen of any state.

CML-NV Cauldron claims that the FDIC can and should be considered a citizen of the District of Columbia for the purposes of invoking federal diversity jurisdiction, and argues that even if it is “stateless,” that fact should not sink...
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