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MERCANTILE BANK & TRUST v. FIDELITY & DEPOSIT CO.

No. 83-3707.

750 F.2d 838 (1985)

MERCANTILE BANK & TRUST CO., LTD., Plaintiff Counter-Defendant-Appellant, v. FIDELITY AND DEPOSIT COMPANY, etc., Defendant Counter-Claimant, v. UNITED STATES of America, Counter Defendant-Appellee, and International Energy Corporation, et al., Counter-Defendants.

United States Court of Appeals, Eleventh Circuit.

January 15, 1985.

Attorney(s) appearing for the Case

Michael J. Sheahan, Gene H. Godbold, Orlando, Fla., for plaintiff counter-defendant-appellant.

Kendall Wherry, Asst. U.S. Atty., Glenn L. Archer, Jr., Asst. Atty. Gen., Michael L. Paup, Chief, Appellate Sec., Carleton D. Powell, Mary L. Fahey, John A. Dudeck, Jr., Tax Div., U.S. Dept. of Justice, Washington, D.C., for counter defendant-appellee.

Before HATCHETT and CLARK, Circuit Judges, and STAFFORD, District Judge.

HATCHETT, Circuit Judge:

This case involves a dispute between parties as to the right of possession and ownership of a collateral deposit fund of $41,131.69. The district court, through summary judgment, awarded the fund to the United States. We affirm.

Facts

International Energy Corporation (IEC) is a Kentucky corporation engaged in strip mining in the Commonwealth of Kentucky. Sometime prior to July, 1975, Frank G. Finkbeiner agreed to sublease...

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