Federal Deposit Insurance Corporation v. Poulsen et al

Filing 58

ORDER NUNC PRO TUNC- Pursuant to the Memorandum and Order (Filing 47 ) and Default Judgment (Filing 50 ) filed on July 1, 2021, default judgment is granted in favor of Federal Deposit Insurance Corporation, in the role of receiver for Ericson State Bank, Ericson, Nebraska ("FDIC-R"), against defendants Tyco Restoration Contractors, LLC, a Kansas Limited Liability Company, and Tyco Restoration Contractors, LLC, a Missouri Limited Liability Company nunc pro tunc as of July 1, 2021. Ordered by Judge Brian C. Buescher. (MKR)

8:20-cv-00499-BCB-SMB Doc # 58 Filed: 07/19/21 Page 1 of 2 - Page ID # 439

IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF NEBRASKA
FEDERAL DEPOSIT INSURANCE
CORPORATION, receiver for Ericson State
Bank, Ericson, Nebraska

8:20-CV-499

Plaintiff,
ORDER NUNC PRO TUNC
vs.
CORY POULSEN; KC PROPERTY GUYS,
LLC, a Kansas Limited Liability Company; KC
PROPERTY GUYS, LLC, a Missouri Limited
Liability Company; SUPERIOR
RESTORATION & CONSTRUCTION, LLC, a
Kansas Limited Liability Company; TYCO
RESTORATION CONTRACTORS, LLC, a
Kansas Limited Liability Company; and TYCO
RESTORATION CONTRACTORS, LLC, a
Missouri Limited Liability Company.
Defendants.

Pursuant to the Memorandum and Order (Filing 47) filed by this Court on July 1, 2021, the
Court granted default judgment for the plaintiff, Federal Deposit Insurance Corporation, in the role
of receiver for Ericson State Bank, Ericson, Nebraska (“FDIC-R”) against defendants Tyco
Restoration Contractors, LLC, a Kansas Limited Liability Company, and Tyco Restoration
Contractors, LLC, a Missouri Limited Liability Company. Filing 50. Plaintiff moves for
clarification that the Court granted default judgment in favor of the FDIC-R, not the Federal
Deposit Insurance Corporation (“FDIC Corporate”). Filing 53.
Courts recognize the difference in the two roles of the FDIC, receiver and corporate entity,
and this Court agrees that it “is well-settled that FDIC operates in two separate and legally distinct
capacities, each with very different responsibilities.” Miller v. FDIC, 738 F.3d 836, 838 n.1 (7th

8:20-cv-00499-BCB-SMB Doc # 58 Filed: 07/19/21 Page 2 of 2 - Page ID # 440

Cir. 2013) (citing DeCell & Assocs. v. FDIC, 36 F.3d 464, 469 (5th Cir. 1994)); see also Maher v.
FDIC, 441 F.3d 522, 525 (7th Cir. 2006); Bullion Servs., Inc. v. Valley State Bank, 50 F.3d 705,
708–09 (9th Cir. 1995). “The responsibility of the FDIC as receiver is to ‘wind[] up the affairs of
failed institutions, including selling assets and paying creditors’ claims,’ whereas FDIC Corporate
‘functions as an insurer of bank deposits, and is charged with paying the insured deposits of failed
banks within a reasonable time.’” Miller, 738 F.3d at 838 n.1 (quoting DeCell & Assocs., 36 F.3d
at 469).
Pursuant to the Memorandum and Order (Filing 47) and Default Judgment (Filing 50) filed
on July 1, 2021, default judgment is granted in favor of Federal Deposit Insurance Corporation, in
the role of receiver for Ericson State Bank, Ericson, Nebraska (“FDIC-R”), against defendants
Tyco Restoration Contractors, LLC, a Kansas Limited Liability Company, and Tyco Restoration
Contractors, LLC, a Missouri Limited Liability Company nunc pro tunc as of July 1, 2021.

Dated this 19th day of July, 2021.
BY THE COURT:

___________________________
Brian C. Buescher
United States District Judge