The complicated Alabama One Credit Union saga will continue when John Dee Carruth files an appeal to reverse the conservatorship and be reinstated as the cooperative's president/CEO. That filing could come as early as Friday.
On Thursday, attorney Jeven Sloan told CU Times that Carruth removed Alabama Credit Union Administration Administrator Sarah Moore from a federal lawsuit in order to pave the way to file the appeal. Under Alabama law, the fact that Carruth had claims pending against Moore in the federal lawsuit could have potentially served as an impediment to certain claims and arguments Carruth could make in his appeal of the conservatorship.
“She was dismissed without prejudice to ensure that Mr. Carruth would have available all claims and remedies that he could make in support of the appeal of the conservatorship,” Sloan said.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.