Does the repeal of a statute granting a party authority to enforce a contract eliminate a successor-in-interest party’s ability to enforce the contract?
12 USC 1441a granted the Resolution Trust Corporation (RTC) certain authority and responsibilities. 12 USC 1831q granted the FDIC the power to carry out any remaining authority and responsibilities of the Resolution Trust Corporation, as set forth in section 1441a.
12 USC 1441a was subsequently repealed.
Since FDIC's powers were predicated on the authority and responsibilities defined in 12 USC 1441a, does the repeal prevent FDIC from continuing to carry out any remaining authority and responsibilities?
Since FDIC powers are predicated on duties