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IN RE FRANKLIN NATIONAL BANK

No. 74-C-1434.

381 F.Supp. 1390 (1974)

In the Matter of the Liquidation of FRANKLIN NATIONAL BANK, a National Banking Association.

United States District Court, E. D. New York.

October 8, 1974.

Attorney(s) appearing for the Case

Hughes, Hubbard & Reed, New York City, for FDIC as Receiver of Franklin National Bank by Powell Pierpoint, Amalya L. Kearse, New York City, of counsel.

Edward Bransilver, Myers N. Fisher, Washington, D. C., Gen. Counsel to FDIC.

Cadwalader, Wickersham & Taft, New York City, Gen. Counsel to Franklin National Bank and Franklin New York Corp. by Paula Van Meter, New York City, of counsel.

MEMORANDUM OPINION

JUDD, District Judge.

The court has been asked to give ex parte approval to transactions involving billions of dollars and at least two federal agencies and two large banks.

Although the court has determined that such action is proper, approval has not been given without careful consideration during the interval of more than three weeks since the first draft of the basic papers was submitted to the court for consideration...

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