MEMORANDUM AND ORDER
CARL O. BUE, Jr., District Judge.
I.
THE FACTS
Defendant was chairman of the board of First State Bank of Aransas Pass, Texas, in 1969 when the bank failed and the Federal Deposit Insurance Corporation (FDIC) liquidated the bank's holdings. Thereafter, defendant filed voluntary petitions in bankruptcy for himself and the three corporations which he controlled. See In The Matter Of Louis L. Seiffert, Jr., et...
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