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FIRST NAT. BANK OF WAUKESHA v. WARREN

No. 86-1456.

796 F.2d 999 (1986)

FIRST NATIONAL BANK OF WAUKESHA, Petitioner, v. Robert W. WARREN, Judge, United States District Court for the Eastern District of Wisconsin, Respondent. Federal Deposit Insurance Corporation, Real party in interest.

United States Court of Appeals, Seventh Circuit.

Decided July 24, 1986.

Rehearing and Rehearing Denied September 26, 1986.

Attorney(s) appearing for the Case

John A. Busch, Michael, Best & Friedrich, Milwaukee, Wis., for petitioner.

William J. French, Gibbs, Roper, Loots & Williams, Milwaukee, Wis., for respondent.

Before CUMMINGS, Chief Judge, and EASTERBROOK and RIPPLE, Circuit Judges.

Rehearing and Rehearing En Banc Denied September 26, 1986.

EASTERBROOK, Circuit Judge.

Robert Nanz ran up large debts by kiting checks. He left a half-dozen banks holding worthless paper and spent some time in jail. One of his victims was the First National Bank of Waukesha. The Federal Deposit Insurance Corp. believes that another victim was the American City Bank & Trust Co. of Milwaukee, a defunct bank. The FDIC, acting as receiver, sold some of American...

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