Attorney Larry E. Powe's Legal Cases

Real estate

American Electrical Steel Company v. Scarpace, 67 Mich. App. 189, 240 NW2d 755 (1976), rev’d, 399 Mich. 306, 249 NW2d 70 (1976)

Jan 01, 1976

OUTCOME: Michigan Supreme Court reversed Michigan Court of Appeals denial of specific perfrormance

Commercial real estate purchase agreement and specific performance claim against seller

Banking

FDIC v. Stone, 587 F. Supp. 1379 (E.D. Mich. 1983)

N/A

OUTCOME: Judgment jointly and severally in favor of FDIC

Oral commitments or promises by former bank officers not enforceable against FDIC, in its corporate capacity, upon bank failure

Banking

FDIC v. Wood, 758 F.2d 156 (6th Cir., 1985), cert. den. 474 U.S. 944 (1985)

N/A

OUTCOME: Court of Appeals, as well as U. S. Supreme Court, affirmed jury verdict in favor of FDIC

In a jury trial, former bank counsel and borrower could not assert oral defenses for commercial loan obligations

Banking

FDIC v. Leach, 525 F. Supp. 1379 (E.D. Mich. 1981), aff'd 772 F.2d 1262 (6th Cir., 1985)

N/A

OUTCOME: Judgment awarded in favor of FDIC

Oral defenses asserted against commercial loan obligations were disallowed by both district court and court of appeals

Banking

FDIC v. Garbutt, 142 Mich. App. 462, 370 NW 2d (1985)

N/A

OUTCOME: Judgment for FDIC for principal amount of loan only

Usury defense asserted against loan to individuals, deemed "non-business" under Michigan usury law

Banking

FDIC v. Wysong, 865 F.2d 1267 (6th Cir., 1988)

N/A

OUTCOME: Judgment in favor of FDIC

Bank loan against individual deemed to be "business" in nature, in spite of Michigan usury laws, based upon D'Oench Duhme doctrine and Section 1823e of the FDIC Act

Banking

RTC v. Townsend Associates, 840 F.Supp 1127 (ED Mich. 1993)

N/A

OUTCOME: Judgment for FDIC in full amount of mortgaged indebtedness

Mortgage loan terms not alterable based upon oral promises by former bank officers to borrower, which owned the Townsend Hotel, Birmingham, Michigan.

Banking

Jackson v. FDIC, 2010-WL 653151 (ED Mich. 02/19/2010)

N/A

OUTCOME: Judgment of dismissal in favor of FDIC

Claims of wrongful foreclosures of commercial investment properties ineffective against FDIC, in its corporate capacity, subsequent to lender bank's failure

Banking

RTC v. Templeton, 12 F. Supp 2d 667 (WD Mich. 1997)

N/A

OUTCOME: Judgment in favor of FDIC

Commercial borrower was precluded from asserting oral terms and conditions promised by former bank officer of failed bank, when FDIC, in its corporate capacity, sought to collect loan

Debt collection

Cochrane v. Westwood Wholesale Grocery Company, 394 Mich. 164, 229 NW2d 309 (1975)

N/A

OUTCOME: Michigan pre-judgment garnishments declared unconstitutional

Defense against commercial pre-judgment garnishment and challenge to same on constitutional grounds

Larry E. Powe's Legal Cases (23)

American Electrical Steel Company v. Scarpace, 67 Mich. App. 189, 240 NW2d 755 (1976), rev’d, 399 Mich. 306, 249 NW2d 70 (1976)

FDIC v. Stone, 587 F. Supp. 1379 (E.D. Mich. 1983)

FDIC v. Wood, 758 F.2d 156 (6th Cir., 1985), cert. den. 474 U.S. 944 (1985)

FDIC v. Leach, 525 F. Supp. 1379 (E.D. Mich. 1981), aff'd 772 F.2d 1262 (6th Cir., 1985)

FDIC v. Garbutt, 142 Mich. App. 462, 370 NW 2d (1985)

FDIC v. Wysong, 865 F.2d 1267 (6th Cir., 1988)

RTC v. Townsend Associates, 840 F.Supp 1127 (ED Mich. 1993)

Jackson v. FDIC, 2010-WL 653151 (ED Mich. 02/19/2010)

RTC v. Templeton, 12 F. Supp 2d 667 (WD Mich. 1997)

Cochrane v. Westwood Wholesale Grocery Company, 394 Mich. 164, 229 NW2d 309 (1975)