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FEDERAL DEPOSIT INS. CORP. v. AMERICAN BANK

No. 76-1782.

558 F.2d 711 (1977)

FEDERAL DEPOSIT INSURANCE CORPORATION, Appellee, v. AMERICAN BANK TRUST SHARES, INC. (ABTS), et al., Appellees, and Sidney Robinson Bagby et al., Appellants, and Sadie G. Schein, Individually and suing on behalf of all other capital note holders of American Bank & Trust, Defendants.

United States Court of Appeals, Fourth Circuit.

Decided July 8, 1977.

Attorney(s) appearing for the Case

W. Eugene Rutledge, Birmingham, Ala. (Rutledge & Pruett, Birmingham, Ala., Pritchard, Myers, Morrison, Bloom & Rutledge, Charleston, S.C., Starnes, Starnes & Reddoch, Birmingham, Ala., on brief), for appellants.

J. Randolph Pelzer, Charleston, S.C. (Sinkler, Gibbs & Simons, Charleston, S.C., on brief), for appellees.

Before HAYNSWORTH, Chief Judge, WINTER, Circuit Judge, and COPENHAVER, District Judge.

WINTER, Circuit Judge:

Defendants, shareholders in American Bank Trust Shares, Inc. (ABTS), appeal from orders of the district court declaring, in relevant part, (1) that Federal Deposit Insurance Corporation (FDIC) is the sole owner of certain choses in action against the officers and directors of ABTS and its subsidiary, American Bank & Trust (Bank); (2) that FDIC may bring such causes of action to trial as soon as practicable; and (3) that defendants' counterclaim...

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