Federal Deposit Insurance Corp. v. Oldenburg

SEYMOUR, Chief Judge. The Federal Deposit Insurance Corporation (FDIC), acting in its corporate capacity,1 sued certain former officers and
directors of the State Savings & Loan Association of Salt Lake City, Utah (State Savings) for fraud and negligence. It
also sued to recover under two separate savings and loan blanket bonds issued to State Savings. This appeal involves only
the two blanket bonds. The district court issued a series of pretrial rulings and then held a bench trial, after which it
made extensive findings of fact and entered judgment for the FDIC on both fidelity bonds. The fidelity insurers appeal several
of the court's rulings, and the FDIC cross appeals the court's denial of prejudgment interest. We affirm in part, reverse
in part, and remand for further proceedings.