HOWELL v. CONTINENTAL CREDIT CORP.

No. 80-1566.

655 F.2d 743 (1981)

Lillian Lincoln HOWELL and Lincoln Television, Inc., Plaintiffs-Counter-Defendants-Appellants, v. CONTINENTAL CREDIT CORP., and The Drovers National Bank of Chicago, Defendant, and The Federal Deposit Insurance Corporation, Defendant-Counter-Plaintiff-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 17, 1981.

Rehearing Denied September 4, 1981.


Attorney(s) appearing for the Case

Carol R. Thigpen, Jenner & Block, Chicago, Ill., for plaintiffs-counter-defendants-appellants.

Robert C. Knuepfer, Asst. U. S. Atty., Chicago, Ill., for defendant-counter-plaintiff-appellee.

Before FAIRCHILD and PELL, Circuit Judges, and SPEARS, Senior District Judge.


PELL, Circuit Judge.

This case arises from a highly complex but not well-managed financial transaction through which the Federal Deposit Insurance Corporation (FDIC) became the purported lessor of various items of equipment to appellant Howell as lessee. The FDIC is now claiming the amounts due under the leases and the appellants defend on the ground that the original lessor, Continental Credit Corp. (Continental) failed...

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