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FEDERAL DEPOSIT INS. CORP. v. AIR ATLANTIC, INC.

389 Mass. 950 (1983)

452 N.E.2d 1143

FEDERAL DEPOSIT INSURANCE CORPORATION vs. AIR ATLANTIC, INC., & another (and a companion case).

Supreme Judicial Court of Massachusetts, Middlesex.

August 17, 1983.

Attorney(s) appearing for the Case

Michael Edward Casey for Dwight L. Rockwell & another.

Louis A. Rodrigues (Barbara J. Levine with him) for Federal Deposit Insurance Corporation.

Present: HENNESSEY, C.J., WILKINS, ABRAMS, NOLAN, & O'CONNOR, JJ.

O'CONNOR, J.

Surety Bank and Trust Company (Surety Bank) closed on May 12, 1972, by order of the Massachusetts Commissioner of Banks. Shortly thereafter, the Commissioner appointed the Federal Deposit Insurance Corporation (FDIC) to liquidate the assets of Surety Bank pursuant to G.L.c. 167, § 26. A single justice of this court confirmed the appointment on May 26, 1972. Acting in its capacity as liquidator, FDIC commenced the first of the two actions here on...

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