Ledo Financial Corporation, Plaintiff-appellant, v. Harry L. Summers; Daniel W. Diefdorff; David Eichten, Defendants,andfederal Deposit Insurance Corporation, a Receiver for Sunsavings & Loan Association, Defendant-appellee, 2 F.3d 1157 (9th Cir. 1993)

Before NOONAN, FERNANDEZ and KLEINFELD, Circuit Judges.

MEMORANDUM^* 

The district court issued an order staying the action as to FSLIC to allow Ledo Financial Services to file a claim with FSLIC, then dismissed the action three years later because Ledo failed to file its claim. In Coit Independent Joint Venture v. Federal Savings & Loan, 109 S. Ct. 1361, 1375-76 (1989), the Supreme Court held that the claims procedure in effect when Ledo filed its action and when the district court stayed the action was inadequate and need not be exhausted. Consequently, the district court erred in dismissing Ledo's action on the ground of failure to exhaust administrative remedies. The district court remains free, of course, to dismiss Ledo's action or not on other appropriate grounds.

REVERSED and REMANDED.