Lawyers for the NCUA and former WesCorp CEO Robert A. Siravo are due in court Tuesday for a hearingregarding a motion by the regulator to prevent Siravo's attorneysfrom collecting depositions from current and former NCUA officialsDebbie Matz, Gigi Hyland and Kent Buckham.

According to documents filed in U.S. District Court in LosAngeles on July 10, the NCUA is seeking a protective order againstthe depositions of NCUA Board Chairman Matz, former Board MemberHyland and Director of the Office of Consumer Protection KentBuckham.

Buckham was director of the NCUA's Office of Corporate CreditUnions at the time of WesCorp's failure.

The NCUA argues in the documents that Siravo's attorneys havenot shown that the three have direct personal factual informationpertaining to the case that the defendant couldn't get throughanother source.

The plaintiff cited precedent that high-ranking governmentofficials should not be subject to involuntary depositions unlessthere are extraordinary circumstances. Matz, Hyland and Buckham areconsidered high-ranking officials, the NCUA's attorneys added.

For his part, Siravo's attorneys argue that the NCUA's precedentcases involve plaintiffs that sue government officials, whereas“the agency has dragged Mr. Siravo into court.” Siravo's legal teamfurther argues that the three do, indeed, have personal knowledgeof important and relevant issues in the case.

Court documents allege Matz said in 2010 that problems withresidential mortgage-backed securities lie outside of corporates,and the investments were perceived by the NCUA to be safe beforethe 2008 economic meltdown. Hyland is also quoted as saying in 2008that corporates and their investments were doing “just fine.”

Despite the fact that Hyland left the NCUA Board Oct. 5, the regulator argued that herresignation doesn't affect the protective order motion.

“These statements are admissions of party opponents, and cut atthe heart of the NCUA's theory that somehow Mr. Siravo should havefigured out the problems with RMBS faster than anyone else, eventhe governing agency that was responsible for overseeing theindustry,” argued the defendant's attorneys on July 10.

Siravo's attorneys also go after Buckham's deposition, who theysay had direct responsibility for oversight of corporates and waspersonally involved in reviewing WesCorp's risk management in2007.

Only Siravo and former WesCorp Chief Financial Officer Todd Lane remain after the NCUA settled with former WesCorpexecutives Timothy Sidley, Robert Burrell and Thomas Swedberg in March, May and July, respectively.

Should Siravo or Lane fail to reach a settlement with the NCUA,the case would go to trial March 26, 2013. WesCorpwas seized bythe NCUA March 20, 2009, after investment losses from highconcentrations of private-label, mortgage-backed securitieseliminated the corporate's capital and racked up the majority ofcorporate stabilization costs.