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GIROIR v. MBANK DALLAS, N.A.

Civ. No. LR-C-76-531.

676 F.Supp. 915 (1987)

C.J. GIROIR, Jr. and Stock, Inc., Plaintiffs, v. MBANK DALLAS, N.A., Defendant, Federal Savings & Loan Insurance Corporation, Intervenor.

United States District Court, E.D. Arkansas, W.D.

November 25, 1987.

Attorney(s) appearing for the Case

Bruce W. Claycombe, Jones, Claycombe & King, Dallas, Tex., H. Sam Hilburn, Hilburn, Calhoon, Harper & Pruniski, Ltd., North Little Rock, Ark., for plaintiffs.

Winstead, McGuire, Sechrest & Minick, P.C., Dallas, Tex., Robert L. Robinson, Jr., William T. Marshall, Scotty Shively, Hatfield, Robinson, Hodges, Staley, Marshall, Jordan & Shively, Little Rock, Ark., for Mbank.

Doug Smith, Alan Wooten, Warner & Smith, Forth Smith, Ark., Linda Newman, Graham & Jones, Los Angeles, Cal., for Balder Corp.

Donna Mixon, Peter Lovato, Robert Patterson, Hopkins & Sutter, Chicago, Ill., Peter Heister, James W. Cherry, Eichenbaum, Scott, Miller, Liles & Heister, Little Rock, Ark., for Federal Sav. and Loan Ins. Corp.

MEMORANDUM OPINION

MORRIS SHEPPARD ARNOLD, District Judge.

In January, 1986, plaintiff C.J. Giroir, Jr., obtained from defendant MBank Dallas an irrevocable letter of credit1 in the amount of $13,209,000. In conjunction with the letter of credit, plaintiff Giroir executed a promissory note to MBank for $13,209,000. As collateral, he pledged 133,000 shares of Worthen Bank stock and...

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