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CONTINENTAL BANK & TRUST COMPANY v. BRANDON

No. 18486.

297 F.2d 928 (1962)

CONTINENTAL BANK & TRUST COMPANY, as Receiver for Inland Empire Insurance Company, Appellant, v. John BRANDON, as Treasurer of the State of Alabama, (Laurie Hunter Brandon, as Executrix of the Will of John Brandon, deceased, substituted as appellee in place of John Brandon, Deceased), Appellee.

United States Court of Appeals Fifth Circuit.

January 11, 1962.

Attorney(s) appearing for the Case

Harold Williams, Birmingham, Ala., Arthur Nielsen, Salt Lake City, Utah, Martin, Vogtle, Balch & Bingham, Birmingham, Ala., for appellant.

James E. Clark, Leigh M. Clark, L. Murray Alley, Birmingham, Ala., for appellee, Cabaniss & Johnston, London, Yancey, Clark & Allen, Birmingham, Ala., of counsel.

Before CAMERON and WISDOM, Circuit Judges, and THOMAS, District Judge.

DANIEL HOLCOMBE THOMAS, District Judge.

Receiver for Inland Empire Insurance Company sued to recover on the indebtedness of Royal American Insurance Company to Inland, naming John Brandon, as Treasurer of the State of Alabama, a defendant. Brandon, as State Treasurer, had held securities deposited by Royal American for the benefit of its policy holders and creditors, as required by State law. He had released those securities...

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