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BLACK v. FEDERAL DEPOSIT INS. CORP.

No. 80-7196.

640 F.2d 699 (1981)

Herbert R. BLACK, Thomas M. Daniels, Jr. and J. C. Clements, Plaintiffs-Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit. Unit B

March 26, 1981.

Attorney(s) appearing for the Case

Pierce, Ranitz, Mahoney, Forbes & Coolidge, Morton G. Forbes, Thomas J. Mahoney, Jr., Savannah, Ga., for plaintiffs-appellants.

Bouhan, Williams & Levy, Leamon R. Holliday, III, Savannah, Ga., Frank L. Skillern, Jr., Gen. Counsel, Myers N. Fisher, Asst. Gen. Counsel, Ann Graham, FDIC, Washington, D. C., for defendant-appellee.

Before TUTTLE, RONEY and VANCE, Circuit Judges.

TUTTLE, Circuit Judge:

Black, Daniels, and Clements are three obligors who, on February 11, 1974, signed a note payable to Hamilton Mortgage Corporation for $458,000. This note was transferred to Hamilton National Bank and, upon that institution's insolvency, the Federal Deposit Insurance Corporation (FDIC) acquired it as a receiver of the bank. FDIC as receiver then sold the note to FDIC in its corporate capacity.

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