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IN RE LEGEL BRASWELL GOVERNMENT SECURITIES CORP.

No. 81-5423.

695 F.2d 506 (1983)

In re LEGEL BRASWELL GOVERNMENT SECURITIES CORPORATION, Bankrupt. PLANO SAVINGS & LOAN ASSOCIATION, Plaintiff-Appellee, v. IRVING TRUST COMPANY, Defendant-Appellant.

United States Court of Appeals, Eleventh Circuit.

January 10, 1983.

Attorney(s) appearing for the Case

Britton, Cohen, Kaufman, Benson & Schantz, John Britton, Miami, Fla., Stroock, Stroock & Lavan, Krause, Nirsch & Gross, Roy H. Carlin, Alan Kolod, New York City, for defendant-appellant.

Mershon, Sawyer, Johnston, Dunwody & Cole, Timothy J. Norris, Miami, Fla., Haynes & Boone, Robin P. Hartmann, Dallas, Tex., for plaintiff-appellee.

Before HILL and HENDERSON, Circuit Judges, and GARZA, Senior Circuit Judge.

JAMES C. HILL, Circuit Judge:

Irving Trust Company ("Irving Trust") appeals a district court order affirming the bankruptcy court's grant of summary judgment in favor of Plano Savings & Loan Association ("Plano"). Both the district court and the bankruptcy court determined that Plano held a superior claim to the disputed proceeds of the sale of a Government National Mortgage Association ("GNMA") certificate. On appeal, Irving Trust maintains that it is entitled...

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