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CENTRAL NAT. BANK v. RAINBOLT

Nos. 81-2262, 82-1227.

720 F.2d 1183 (1983)

CENTRAL NATIONAL BANK, Poteau, Oklahoma, a National Bank, F.L. Holton, in his official and individual capacities, and Tommy Miller, in his official and individual capacities, Plaintiffs-Appellants, v. H.E. RAINBOLT, an individual, Neal H. Sims, an individual, Ronald A. Sims, an individual, Charles D. Saviers, co-trustee of the C.B. Saviers Testamentary Trust, and Boyd M. Saviers, co-trustee of the C.B. Saviers Testamentary Trust, Defendants-Appellees. CENTRAL NATIONAL BANK, Poteau, Oklahoma, a National Bank, F.L. Holton, in his official and individual capacities, Plaintiffs-Appellants, v. H.E. RAINBOLT, an individual, Neal H. Sims, an individual, Ronald A. Sims, an individual, Charles D. Saviers, co-trustee of the C.B. Saviers Testamentary Trust, and Boyd M. Saviers, co-trustee of the C.B. Saviers Testamentary Trust, Defendants-Appellees.

United States Court of Appeals, Tenth Circuit.

November 9, 1983.

Attorney(s) appearing for the Case

Richard F. Campbell, III of Fellers, Snider, Blankenship, Bailey & Tippens, Oklahoma City, Okl. (James D. Fellers and John Joseph Snider of Fellers, Snider, Blankenship, Bailey & Tippens, Oklahoma City, Okl. and James E. Hamilton of Hamilton & Warren, Poteau, Okl., with him on brief), for plaintiffs-appellants.

Robert D. Nelon of Andrews, Davis, Legg, Bixler, Milsten & Murrah, Oklahoma City, Okl., for defendants-appellees.

Before SETH, Chief Judge, McWILLIAMS, Circuit Judge, and KERR, District Judge.

SETH, Chief Judge.

This is a consolidated appeal from the trial court's order denying the plaintiffs' motion for a preliminary injunction and granting the defendants' motion for summary judgment. The suit arises from the attempt of the plaintiffs Central National Bank (CNB) and the Chairman of its Board of Directors, Mr. Holton, to block the takeover of CNB by the defendant, Mr. Rainbolt.

Mr. Rainbolt attempted to purchase shares of CNB held by certain of...

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