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FDIC Enforcement Decisions and Orders |
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Motion for Stay pending judicial review of an Order to Cease and Desist was denied. FDIC found that petitioners failed to set forth any factual or legal basis upon which the stay could be granted. (Related proceedings in this docket appear at [¶
[.1] Practice and ProcedureJudicial ReviewStandards for Stay of FDIC Action
In the Matter of *** Bank *** ***, ***
On November 21, 1988, *** Bank ***, *** (the "Bank" or "Petitioner") filed a motion with the Board of Directors of the Federal Deposit Insurance Corporation (the "Board") seeking a stay of the Board's Decision and Order ("Order") dated October 18, 1988 ("Motion for Stay"), pending review of the Board's Order by the United States Court of Appeals for the Seventh Circuit.
[.1] In deciding whether to stay an agency order, administrative agencies and the courts of appeal apply basically the same standards. Petitions for a stay pending judicial review must demonstrate that four conditions are met before a stay will be entered, to wit: (1) a likelihood that the petitioner will prevail on the merits of the appeal; (2) irreparable injury to the petitioner unless the stay is granted; (3) no substantial harm to other interested persons; and (4) no harm to the public interest. 2 Moore's Federal Practice 65.04[1] at 65:3940 and the cases cited therein; Associated Securities Corp. v. S.E.C., 283 F.2d 773, 774-75 (10th Cir. 1960); Virginia Petroleum Jobbers Assn. v. F.P.C., 259 F.2d 921, 925 (D.C. Cir. 1958). Petitioner does not meet any of these conditions. |
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Last Updated 6/6/2003 | legal@fdic.gov |