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IN RE SOUTHERN INDUS. BANKING CORP.

Bankruptcy No. 3-83-00372, Adv. No. 3-85-0005.

49 B.R. 811 (1985)

In re SOUTHERN INDUSTRIAL BANKING CORPORATION, d/b/a Daveco, Debtor. Thomas E. DUVOISIN, Liquidating Trustee, Plaintiff, v. STATE OF TENNESSEE, John Neff, Mary Nicely, Bernard McCray, Ed Yager, Kyle Blalock, Tom Hamm, and Harold Borum, Defendants.

United States Bankruptcy Court, E.D. Tennessee.

May 20, 1985.

Attorney(s) appearing for the Case

Dearborn & Ewing, James R. Kelley, M. Clark Spoden, Nashville, Tenn., for plaintiff.

William H. Farmer, Advocate Atty. Gen., Kate Eyler, Deputy Atty. Gen., Nashville, Tenn., for defendants State of Tenn., John Neff in his official capacity, Mary Nicely, Bernard McCray, Ed Yager, Kyle Blalock, Tom Hamm and Harold Borum in their official and individual capacities.

Littleton, Weed, Hubbard & Seaman, William B. Hubbard, Nashville, Tenn., for defendant John Neff in his individual capacity.

CLIVE W. BARE, Bankruptcy Judge.

At issue is whether the statute establishing the defendants' examining and regulatory duties under the Tennessee Industrial Loan and Thrift Companies Act imposes upon defendants any actionable duty owing to the institution regulated. Tenn.Code Ann. § 45-5-101 to -504 (1980).

I

Plaintiff, as Liquidating Trustee for Southern Industrial Banking Corporation, originally commenced this adversary proceeding on January...

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