Opinion
Case No. 2:08-CV-00069-FCD-KJM.
October 28, 2008
ORDER GRANTING REQUEST OF FEDERAL DEPOSIT INSURANCE CORPORATION FOR MANDATORY STAY
The court is in receipt of defendant Federal Deposit Insurance Corporation's (the "FDIC") Request for Mandatory Stay pursuant to 12 U.S.C. § 1821(d)(12). The FDIC was appointed as a receiver for defendant Washington Mutual Bank. Section 1821(d)(12)(A) provides that a receiver may request a stay not to exceed ninety days in any judicial action to which the insured depository institution is a party. The statute further provides that "[u]pon receipt of a request by any . . . receiver . . . for a stay of any judicial action or proceeding . . ., the court shall grant a stay as to all parties." 12 U.S.C. § 1821(d)(12)(B). Having reviewed the motion and the materials submitted in support thereof, the FDIC's Request is granted and the entire action is stayed as to all parties until December 24, 2008.
IT IS SO ORDERED.