SUPER X DRUGS CORP. v. FEDERAL DEPOSIT INS. CORP.

Nos. 87-5644, 87-5912.

862 F.2d 1252 (1988)

SUPER X DRUGS CORPORATION and Hook-Super X, Inc., Plaintiffs-Appellants, Cross-Appellees, v. FEDERAL DEPOSIT INSURANCE CORPORATION in its corporate capacity, and Sally C. Bradley, Substitute Trustee, Defendants-Appellees (87-5644), Federal Deposit Insurance Corporation, Defendant-Cross-Appellant (87-5912).

United States Court of Appeals, Sixth Circuit.

Decided December 6, 1988.


Attorney(s) appearing for the Case

Courtney N. Pearre, argued, Heiskell, Donelson, Bearman, Adams, Williams and Kirsch, William S. Lockett, Jr., Knoxville, Tenn., for plaintiffs-appellants, cross-appellees.

Michael E. Tucci, argued, D. Michael Trannum, F.D.I.C., Knoxville, Tenn., Geoffrey S. Kranz, for defendants-appellees.

Before WELLFORD and BOGGS, Circuit Judges, EDWARDS, Senior Circuit Judge.


WELLFORD, Circuit Judge.

This is yet another in a series of controversies spawned by the failure of the Butcher family banking "empire" in East Tennessee involving Federal Deposit Insurance Corporation (FDIC) in its role as receiver following insolvency of a Butcher-controlled bank. This suit by Super X Drugs Corp (Super X)1 was filed in Tennessee state court seeking an injunction to prevent FDIC from foreclosing on property on which a...

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