Within the a supplemental cross-allege registered of the Organization may 28, 1948, they alleged you to to make the fresh new advancements of told you $six,3 hundred,000 so you’re able to Ammann since purported Conservator to have Connection, San francisco bay area Lender or other mix-defendants « were using wholly or perhaps in area, currency, financing, and property, which they know was basically belonging to, the house or property out of, and you will belonging to the Federal Financial Financial out of Los angeles [otherwise belonging to the stockholders] and this said money, fund and you can possessions was in fact gotten because of the cross-defendants from the deceptive and you will harmful seizure and you will confiscation out of said Los Angeles Bank * * *. »
Then light is actually forgotten to the various claims of the an argument out-of counsel to have Los angeles made in legal in the primary instance for the July 31, 1948. The guy stated:
An official holding of one’s Court are that investors regarding Association (Mallonee) have been estopped, given that Organization might be, away from difficult this new terms of Act, Home Owners’ Loan Operate out-of 1933, and therefore registered the newest Board in order to suggest the brand new fine print lower than and that good conservator ed, 332 You
« We [La Bank] is actually saying claims to the brand new $6,300,100000 worth of notes toward deposit on the registry of your courtroom, performed of the Ammann while the Conservator, and is also our point out that money familiar with make this type of finance, when you look at the higher part, was finance of the Los angeles Lender. »
It asserted that during the several months if you’re Ammann was at costs regarding Connection since the Conservator, Organization lent on Bank out-of San francisco bay area amounts exceeding $six,3 hundred,000 which figures was all of the time protected as required lower than the fresh terms of Federal Home loan Lender Operate and you may laws and you will legislation adopted pursuant thereto, from the project and you will promise out-of United states Government Securities, promissory cards secured because of the mortgage loans otherwise deeds out-of believe on genuine assets, and you will inventory stored because of the told you Organization during the told you Financial from San Francisco. That all told you sums very borrowed by Association were utilized of the Connection during the transacting and performing the business regarding Connection and for intentions and the advantage of the organization out of Relationship.
In the a response of the Lender away from San francisco (in the main situation) into amended cross-claim out of Association and therefore respond to are recorded July 30, 1948 San francisco bay area describes the borrowed funds made to Relationship from the following styles
While the listing implies, the fresh contradictory contentions respecting the fresh new impounded money make a perplexing image. Of the pros and therefore all the activities affix to these types of funds we have provided him or her way more hard procedures regarding the margin. cuatro
Ahead of concluding which element of our thoughts reference would be made for the opinions conveyed from the Supreme Judge inside the Fahey v. Mallonee, 332 You.S. 245, 67 S. Ct. 1552, 91 L. Ed. 2030, regarding the things and this incur right on the trouble of one’s authenticity of your own notes kept of the Financial Lender off San Francisco. S. at the page 256, 67 S. Ct. on page 1557. A final decision is that it was error so you’re able to oust this new conservator (Ammann) or even to enjoin some of his legal proceeding, or to enjoin brand new administrative reading into the their fulfilling. 332 You.S. during the web page 257, 67 S. Ct. from the page 1557. The latest claimed lien from San francisco bay area with the impounded financing try considering these notes.
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For an in depth record of one’s process regarding the lower courtroom leading up to the transaction impounding the cash, recourse shall be was required to the fresh posted transcript out of list toward the newest attention in the primary situation (12,511). The motion out-of Relationship getting purchase from impound seems during the pp. 3562 so you’re able to 3597; the fresh new motion regarding Relationship to have your order to Bay area so you’re able to inform you trigger as to the reasons finance shouldn’t be impounded seems at the pp. 3597 to help you 3599; the order directed to San francisco and you will Los angeles requiring such financial institutions to demonstrate bring about as to why the fresh actions out of Relationship to help you impound the money advertised by the Association should not be granted, seems at pp. 3599 to help you 3601; the brand new « Return » out of San francisco bay area towards court’s acquisition to show produce appears on pp. 3690 so you can 3752; the newest « Return » out-of La towards the court’s order to demonstrate cause looks within pp. 3642 to 3646; the latest impounding buy of one’s court, old February 13, 1948, looks from the pp. 8399 so you can 8525.