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TOSCO CORP. v. FEDERAL DEPOSIT INS. CORP.

No. 82-5579.

723 F.2d 1242 (1983)

TOSCO CORPORATION, Plaintiff-Appellee, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Defendant-Appellant.

United States Court of Appeals, Sixth Circuit.

Decided December 23, 1983.

Attorney(s) appearing for the Case

Henry Haile, Nashville, Tenn., Ellis A. Sharp (argued), Knoxville, Tenn., Morton, Lewis, King & Krieg, Nashville, Tenn., for defendant-appellant.

Jay S. Bowen (argued), Bass, Berry & Sims, Nashville, Tenn., for plaintiff-appellee.

Before ENGEL and MARTIN, Circuit Judges, and PHILLIPS, Senior Circuit Judge.

PHILLIPS, Senior Circuit Judge.

This appeal involves a judgment of $108,852.27 plus interest rendered against the United Southern Bank of Clarksville, Clarksville, Tennessee (Bank of Clarksville) for the wrongful dishonor of a draft under a letter of credit. Jurisdiction was based upon diversity of citizenship. The Bank appealed.

On August 26, 1983, several months after the filing of the Bank's notice of appeal, the Bank was declared insolvent and was closed...

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