HERA didn't bypass the conservator's Fiduciary Duty. It's explained in the Amicus Curiae brief that the Fiduciary Duty is the conservator's Incidental Powers, which makes a lot of sense since a Fiduciary Duty is a second layer of powers.
The Incidental Powers are about not seeking the shareholders' interests, but there's a second fiduciary duty related to the duty of Prudence or standard of care, that must be the part of the Incidental Powers that stresses, when it directs him to take any action, "AUTHORIZED BY THIS SECTION", which means that it must comply with the section of Conservatorship and, specifically, with the powers: put FnF in a sound and solvent condition.
So, it won't pursue our interests but the conservator must comply with the law, as a way to prevent him from stealing from the enterprises like today.
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