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TCHEREPNIN v. FRANZ

No. 18581.

461 F.2d 544 (1972)

Alexander TCHEREPNIN et al., Plaintiffs-Appellees, v. Robert FRANZ et al., Defendants, J. J. Lowenthal et al., Class of Intervening Defendants, Appellants.

United States Court of Appeals, Seventh Circuit.

Decided May 15, 1972.

Rehearing Denied June 20, 1972.

Attorney(s) appearing for the Case

Maurice J. Walsh, Carl M. Walsh, Chicago, Ill., for appellants.

A. Bradley Eben, Solomon Jesmer, Arnold I. Shure, Chicago, Ill., for appellees.

Before MAJOR and HASTINGS, Senior Circuit Judges, and PELL, Circuit Judge.

PELL, Circuit Judge.

This court once again is confronted with a problem stemming from the collapse of City Savings Association (CSA), a savings and loan institution chartered by the State of Illinois and presently under the control of federal receivers. The main contention of the appellants here, a group of depositors-shareholders, is that the district court erred in concluding that another group of depositors-shareholders (the plaintiffs in the action) has a preference...

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