FIRST EMPIRE BANK v. FEDERAL DEPOSIT INS. CORP.

Nos. 77-2090 and 77-2147.

572 F.2d 1361 (1978)

FIRST EMPIRE BANK-NEW YORK (by its successor in interest Manufacturers & Traders Trust Co. of Buffalo, New York, a New York Banking Corporation), and Societe Generale, a French Banking Corporation, Plaintiffs-Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION and Federal Deposit Insurance Corporation as Receiver of United States National Bank, Defendants-Appellees. FEDERAL DEPOSIT INSURANCE CORPORATION and Federal Deposit Insurance Corporation as Receiver of United States National Bank, Counterclaimants-Cross-Appellants, v. FIRST EMPIRE BANK-NEW YORK and Societe Generale, Counterdefendants-Cross-Appellees.

United States Court of Appeals, Ninth Circuit.

As Amended April 10, 1978.


Attorney(s) appearing for the Case

Don A. Proudfoot, Jr., Graham & James, Long Beach, Cal., for plaintiffs-appellants.

Charles A. Legge, of Bronson, Bronson & McKinnon, San Francisco, Cal., Richard R. Gore, of Schall, Boudreau & Gore, San Diego, Cal., for defendants-appellees.

Before BROWNING and MERRILL, Circuit Judges, and HARPER, District Judge.


MERRILL, Circuit Judge:

This case arises out of the insolvency and receivership of the United States National Bank of San Diego (USNB). The Federal Deposit Insurance Corporation (FDIC), as Receiver, entered into an agreement with Crocker National Bank for purchase by Crocker of selected assets of USNB and assumption by Crocker of certain of the bank's obligations, including deposits. This suit was brought by creditors of USNB, whose claims had not been assumed by...

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