FEDERAL DEPOSIT INS. v. HAINES PIPELINE CONST.

No. Civ-85-1564-T.

617 F.Supp. 61 (1985)

FEDERAL DEPOSIT INSURANCE CORPORATION, Receiver for Penn Square Bank, N.A., Plaintiff, v. HAINES PIPELINE CONSTRUCTION, INC., an Oklahoma corporation, et al., Defendant.

United States District Court, W.D. Oklahoma.

September 11, 1985.


Attorney(s) appearing for the Case

Robert J. Westbrook, Oklahoma City, Okla., for plaintiff.

Michael W. Mitchell, Donald R. Liles, Woodward, Okla., Robert S. Payne, Payne & Payne, Oklahoma City, Okla., for defendant.


ORDER

BACKGROUND

RALPH G. THOMPSON, District Judge.

In this action the FDIC, as receiver for Penn Square Bank, is suing the makers and guarantors of a note to Penn Square. The FDIC is also suing Union Bank and Trust Company, another creditor of the defendant, because Union Bank and Penn Square held competing security interests in the same collateral. The security given for the Penn Square note and also pledged to Union Bank was the proceeds from...

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