In Re Steven P. Thomas, and Thomas Properties, Inc., Plaintiffs v. Federal Deposit Insurance Corporation, in Its…

Summary

The court held that a claimant with a pre-receivership action against a failed bank must exhaust the federal administrative claims process before continuing the action against the receiver. Because Thomas received proper notice but filed no administrative claim, the court concluded that the trial court lacked continuing subject matter jurisdiction and directed dismissal of the claims against the FDIC.