FREESE V. FDIC
837 F.Supp. 22 (D.N.H. 1993)
NATURE OF THE CASE: Before the court is FDIC's (D) Motion for Summary Enforcement of
Administrative Subpoena and Motion to Dismiss.
FACTS: D was appointed receiver and liquidating agent for New Hampshire Savings Bank. D
issued an Order of Investigation to determine whether any valid claims existed against the
Bank's former officers and directors; whether sufficient assets existed to pursue any
potential claims against them; and whether the FDIC should seek to freeze or attach any of
their assets. D issued administrative subpoenas duces tecum to Freese (Ps) and other former
officers and directors of the New Hampshire Savings Bank. Ps sued to have the subpoenas
voided in that D lacked the authority to seek personal financial information, that the
information sought was not relevant to the investigation of the New Hampshire Savings Bank
and the scope of the subpoenas were overly broad and burdensome. D filed motions seeking
summary enforcement of the subpoenas and a dismissal of the complaints.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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