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NORTHERN TRUST CO. v. FEDERAL DEPOSIT INS. CORP.

No. Civ 83-506-R.

619 F.Supp. 1340 (1985)

The NORTHERN TRUST COMPANY, an Illinois state banking corporation, Plaintiff, v. The FEDERAL DEPOSIT INSURANCE CORPORATION, in its capacity as Receiver for Penn Square Bank, N.A., Defendant.

United States District Court, W.D. Oklahoma.

October 15, 1985.

Attorney(s) appearing for the Case

Patrick M. Ryan and Charles E. Geister, III, Ryan, Holloman & Geister, Oklahoma City, Okl., for plaintiff.

Charles C. Baker and Oliver S. Howard, Gable & Gotwals, Tulsa, Okl., for defendant.

ORDER

DAVID L. RUSSELL, District Judge.

Background

Plaintiff Northern Trust Company is an Illinois state banking corporation. Defendant Federal Deposit Insurance Company ("FDIC") is the Receiver of Penn Square Bank, an Oklahoma national banking corporation that was declared insolvent by the Comptroller of the Currency in July, 1982. Prior to its insolvency, Penn Square originated and participated loans to "upstream" banks such as Northern...

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