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TELEGRAPH SAV. AND LOAN ASS'N v. SCHILLING

Nos. 80-2012, 82-1635, 82-1702 and 82-1457.

703 F.2d 1019 (1983)

TELEGRAPH SAVINGS AND LOAN ASSOCIATION, et al., Plaintiffs-Appellants, v. William J. SCHILLING, et al., Defendants-Appellees. TELEGRAPH SAVINGS AND LOAN ASSOCIATION, et al., Plaintiffs-Appellants, v. FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, Federal Home Loan Bank Board and William J. Schilling, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided March 29, 1983.

Rehearing and Rehearing Denied May 12, 1983.

Attorney(s) appearing for the Case

Daniel J. O'Connor, James G. Staples, Francis D. Morrissey, Thomas A. Doyle, Gerald L. Maatman, Jr., William Lynch Schaller, Baker & McKenzie, Chicago, Ill., for plaintiffs-appellants.

John L. Rogers, III, Roger P. Flahaven, Asst. Atty. Gen., Dan K. Webb, U.S. Atty., William T. Clabault, Asst. U.S. Atty., Chicago, for defendants-appellees.

Before BAUER, COFFEY, Circuit Judges, and HOFFMAN, Senior District Judge.

Rehearing and Rehearing En Banc Denied May 12, 1983.

BAUER, Circuit Judge.

In this appeal Telegraph Savings & Loan Association (Telegraph) challenges its closure by the Illinois Commissioner of Savings and Loan Associations (Commissioner), the appointment of the Federal Savings & Loan Insurance Corporation (FSLIC) as receiver and the subsequent sale of Telegraph's assets to First Federal Savings & Loan Association. The district court held that...

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