PROFESSIONAL ASSET MANAGEMENT v. PENN SQUARE BANK

No. CIV-82-1357-W.

566 F.Supp. 134 (1983)

PROFESSIONAL ASSET MANAGEMENT, INC., a California corporation, Plaintiff, v. PENN SQUARE BANK, N.A., now known as Deposit Insurance National Bank of Oklahoma City; Federal Deposit Insurance Corporation, receiver; First Penn Corporation, an Oklahoma corporation; Peat, Marwick, Mitchell & Co., a partnership; James Blanton; Dean York; Bill P. Jennings; Frank L. Murphy; Eldon L. Beller; Bill G. Patterson; Richard T. Dunn; John R. Preston; Ronald H. Burks; Elizabeth Merrick Coe; Gary M. Cook; J.C. Cravens; Richard C. Haugland; Ken L. Kenworthy; C.F. "Tag" Kimberling; Marvin K. Margo; H. Mead Norton; James G. Randolph; Jerry Richardson; W.A. "Dub" Ross; Gene Smelser; Bill Stubbs; Carl W. Swan; J.D. Allen; Longhorn Gas Programs, Inc.; Longhorn Gas Co., Inc.; Longhorn Oil and Gas Company; Longhorn 1980 Private Drilling Program; Robert A. Hefner, III; GHK Corporation; Kenneth E. Tureaud; Saket Petroleum Co.; Kesat; Saket Racing Stables; Saket River Ridge Development Co., Defendants.

United States District Court, W.D. Oklahoma.

June 2, 1983.


Attorney(s) appearing for the Case

Ross Arbiter, Lyle R. Mink, K. Phillip Knierim and Barbara Brown, Gordon, Weinberg, Zipser, Rogers & Wells, Erwin E. Adler, Patricia A. Beaman, Carol B. Sherman, Los Angeles, Cal., Gene A. Castleberry and Robert A. Wiener, Oklahoma City, Okl., for plaintiff.

Stephen P. Friot, Spradling, Alpern, Friot & Gum, Oklahoma City, Okl., for Cravens, J.C. and Norton, H. Mead.

John W. Vardaman, Jr., John K. Villa, Gerson A. Zweifach, Williams & Connolly, Washington, D.C., Peter B. Bradford, Bradford, Haswell, Jones, Oklahoma City, Okl., for Swan, Carl W.

Philip F. Horning, Horning, Johnson & Grove, Oklahoma City, Okl., for Dunn, Richard T.

Jack G. Bush, Gary R. Underwood, Oklahoma City, Okl., for Kimberling, C.F. "Tag".

Robert C. Margo, George F. Short, S. Thomas Adler, Short, Barnes, Wiggins, Margo, Adler & Worten, Oklahoma City, Okl., for Margo, Marvin K.

J. William Conger and James C. Prince, Larry D. Hartzog, Hartzog, Conger & Cason, Earl D. Mills, John M. Perry III, Foliart, Mills & Niemeyer, Oklahoma City, Okl., for Peat, Marwick, Mitchell & Co., Blanton, James and York, Dean.

Charles C. Green, Turner, Turner, Green & Braun, Oklahoma City, Okl., for Jennings, Bill P.

Richard B. Talley, Talley, Perrine & Smith, Norman, Okl., for Beller, Eldon L.

James W. Bill Berry, James W. Bill Berry & Associates, Oklahoma City, Okl., for Burks, Ronald H.

John C. Snodgrass and David T. Hedges, Jr., Vinson & Elkins, Houston, Tex., James E. Work, Shirk, Work, Robinson & Williams, Oklahoma City, Okl., for Coe, Elizabeth Merrick, Cook, Gary M., Haugland, Richard C., Kenworthy, Ken L., Randolph, James G., Richardson, Jerry, Ross, W.A. "Dub" and Smelser, Gene.

Harold M. Durall, Oklahoma City, Okl., for Murphy, Frank L.

Stephen D. Powell, Kirk & Chaney, Oklahoma City, Okl., for Stubbs, Bill.

John N. Goodman, Oklahoma City, Okl., for Preston, John R.

Burck Bailey, Warren F. Bickford, IV, Fellers, Snider, Blankenship, Bailey & Tippens, Oklahoma City, Okl., for Patterson, Bill G.

Charles C. Baker, Oliver S. Howard, Gable & Gotwals, Tulsa, Okl., for Penn Square Bank, N.A., now known as Deposit Insurance National Bank of Oklahoma City and Federal Deposit Insurance Corp., receiver.


ORDER

LEE R. WEST, District Judge.

In addition to its Federal Rule 12(b)(6) challenge to the sufficiency of the complaint, which is addressed in a separate order of this court, the Federal Deposit Insurance Corporation [hereinafter "FDIC"] as receiver of the Penn Square Bank has moved to strike the plaintiff's claim for punitive damages as to it under Federal Rule 12(f). The plaintiff has responded, both to the FDIC's initial motion, going to the original...

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