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LTV FEDERAL CREDIT U. v. UMIC GOVERNMENT SECURITIES

No. 81-1533.

704 F.2d 199 (1983)

LTV FEDERAL CREDIT UNION, Plaintiff-Appellant, v. UMIC GOVERNMENT SECURITIES, INC. and Banco De La Nacion Argentina, Defendants-Appellees. UMIC GOVERNMENT SECURITIES, INC. and Banco De La Nacion Argentina, Plaintiffs, v. LTV FEDERAL CREDIT UNION, Defendant.

United States Court of Appeals, Fifth Circuit.

May 6, 1983.

Attorney(s) appearing for the Case

Jim K. Choate, W.S. Barron, Jr., John P. Lilly, Dallas, Tex., for plaintiff-appellant.

Pettit & Martin, Kerry C. Smith, San Francisco, Cal., Johnson, Swanson & Barbee, Charles R. Haworth, Dallas, Tex., for Banco de la Nacion Argentina.

Martin, Tate, Morrow & Marston, Shepherd D. Tate, W. Thomas Hutton, S. Shepherd Tate, Memphis, Tenn., for UMIC Government Securities, Inc.

Before BROWN, GEE and JOLLY, Circuit Judges.

PER CURIAM:

LTV Federal Credit Union (LTV) filed this diversity case as a declaratory judgment action seeking to sanction its unilateral breach of a Standby Commitment Agreement which it had entered two years earlier with UMIC Government Securities, Inc., (UMIC). UMIC in turn sued LTV for breach of contract and securities fraud, and, after complaint was filed, Banco de la Nacion Argentina (Banco) was joined as a plaintiff with UMIC. The cases were consolidated and...

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