Judge Blocks FDIC Attachment Writ In PMC Fight

Law360, New York (February 11, 2010, 1:46 PM EST) -- A federal judge has blocked the Federal Deposit Insurance Corp.'s bid for a writ of attachment against PMC Bancorp in a dispute over nearly $6.2 million in mortgages that went into early payment default.

In a ruling Wednesday, Judge Suzanne H. Segal of the U.S. District Court for the Central District of California said the FDIC, acting as the receiver for IndyMac Bancorp Inc., had not proven with enough certainty that it would win its case against PMC for such a harsh remedy to be allowed....
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