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LAMBERTON v. FEDERAL DEPOSIT INS. CORPORATION

No. 8389.

141 F.2d 95 (1944)

LAMBERTON v. FEDERAL DEPOSIT INS. CORPORATION.

Circuit Court of Appeals, Third Circuit.

Decided February 8, 1944.

Attorney(s) appearing for the Case

Irving H. Jurow, of Washington, D. C. (Francis C. Brown, of Washington, D. C., and John H. Russell, of Chicago, Ill., on the brief), for appellant.

W. Pitt Gifford, of Erie, Pa. (Robert M. Dale, of Franklin, Pa., on the brief), for appellee.

Before BIGGS, GOODRICH, and McLAUGHLIN, Circuit Judges.

GOODRICH, Circuit Judge.

On December 20, 1941, the Federal Deposit Insurance Corporation1 and the Lamberton National Bank of Franklin2 executed a contract for the sale of all the Bank's assets to the F.D.I.C. This sale was part of a transaction whereby a second bank, the Exchange Bank and Trust Company,3 was to take over the deposit liabilities and acceptable assets of the Bank...

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