On the day the holding company filed bankruptcy the deposit became property of the estate under the jurisdiction of the bankruptcy court. Without more, the bankruptcy court determines the outcome of the deposit, not the fdic. But here the fdic answered in bankruptcy the adversary interpleader filed by JPM over the deposit. THe fdic at that time conceded for this case that the bankruptcy court determines the outcome not the fdic. Whatever fdic could have aruged had it not done this is now irrelevant because it submitted to the jurisdiction of the court . Law of the case.
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