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FEDERAL DEPOSIT INS. CORP. v. MAIN HURDMAN

No. CIV S-85-552 LKK.

655 F.Supp. 259 (1987)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, v. MAIN HURDMAN, Defendant and Third-Party Plaintiff, v. HOLT LEASING COMPANY, et al., Third-Party Defendants, Counterclaimants, and Fourth-Party Plaintiffs, v. KMG MAIN HURDMAN, et al., Counterdefendants, and Continental Illinois National Bank and Trust Company of Chicago, Fourth-Party Defendants.

United States District Court, E.D. California.

March 3, 1987.

Attorney(s) appearing for the Case

William Alsup, Patrick J. Flinn, Laurie S. Hane, Morrison & Foerster, San Francisco, Cal., Theodore H. Livingston, Robert J. Kriss, Barbara Bertok, Lynne M. Raimondo, George A. Martinez, Mayer, Brown & Platt, Chicago, Ill., for Federal Deposit Ins. Corp.

Thomas G. Redmon, Matthew W. Powell, Wilke, Fleury, Hoffelt, Gould & Birney, Sacramento, Cal., Robert J. Kheel, Michael R. Young, David Welch, Willkie, Farr & Gallagher, Richard I. Miller, Gen. Counsel, New York City, for defendant & third-party plaintiff KMG Main Hurdman.

William A. Wineberg, Robert H. Sloss, John E. Rumel, Broad, Schulz, Larson & Wineberg, San Francisco, Cal., for fourth-party defendants Continental Illinois Nat. Bank and Trust Co. of Chicago.

James A. Askew, Neumiller & Beardslee, Stockton, Cal., for Holt Leasing Co., Parker M. Holt, Harry D. Holt, Jarmir F. Marek, Victor C. Wykoff, Jr. and Ronald E. Monroe.

ORDER

KARLTON, Chief Judge.

The Federal Deposit Insurance Corporation ("FDIC") has sued KMG Main Hurdman ("KMG") in three counts: fraud, negligent misrepresentation, and accountant malpractice. It premises the jurisdiction of this court on 12 U.S.C. § 18191, and seeks compensatory and punitive damages in the approximate sum of 140 Million Dollars.

In essence, the FDIC claims that KMG was the accounting firm for Holt...

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