Landlord Can't Sue For Rent On Former Bank: 9th Circ.

Law360, New York (February 2, 2012, 6:49 PM EST) -- The Ninth Circuit ruled on Wednesday that a landlord has no right to sue for rent on a bank building controlled by the Federal Deposit Insurance Corp., affirming a lower court's dismissal of a California landlord's suit against JPMorgan Chase Bank NA.

In the published decision, the court ruled that under federal common law, the landlord cannot bring a suit under a purchase and assumption agreement between Chase and the FDIC because it is not an intended third-party beneficiary of the agreement.

“The express objective of...
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