FEDERAL SAV. & LOAN INS. CORP. v. QUINLAN

Civ. A. No. 86-CV-73343-DT.

678 F.Supp. 174 (1988)

FEDERAL SAVINGS & LOAN INSURANCE CORPORATION, Plaintiff, v. John E. QUINLAN, Patrick D. Quinlan, and James B. Quinlan, Defendants and Counter-Plaintiffs, and Bonnie B. QUINLAN, P. Philip Matthews, Lawrence A. Grace, James D. Kendall, D. Michael Jehle, Marc Bajer, James R. Beuche, John W. Corey, John R. Dempsey, James P. Frenza, Norman B. Herbert, William S. Hobbs, and U.S. Mutual Financial Corporation, Defendants, and U.S. Mutual Financial Corporation, Third-Party Plaintiff, v. REGENCY SAVINGS BANK, F.S.B., and Stephen P. Banicki, Edward Mannino, Kenneth Chupinski and Joseph Krul, Third-Party Defendants, and Patrick D. QUINLAN, James B. Quinlan and P. Phillip Matthews, Third-Party Plaintiffs, v. PRICE WATERHOUSE, Third-Party Defendant, and John E. QUINLAN, Jr., Patrick D. Quinlan, James B. Quinlan and P. Phillip Matthews, Third-Party Plaintiffs, v. Stephen P. BANICKI, Edward Mannino and Bodman, Longley & Dahling, Third-Party Defendants, and John E. Quinlan, Patrick D. Quinlan and James B. Quinlan, Third-party Plaintiffs, v. Joseph KRUL, Kenneth Chupinski, Regency Savings Bank, F.S.B.; Federal Home Loan Bank Board of Indianapolis, Third-Party Defendants.

United States District Court, E.D. Michigan, S.D.

January 22, 1988.


Attorney(s) appearing for the Case

W. Merrit Jones, Jr., Detroit, Mich., for plaintiff.

John A. Anderson, Birmingham, Mich., for third-party plaintiff James Quinlan.

Keefe Brooks, Detroit, Mich., for third-party plaintiff Patrick Quinlan.

William K. Holmes, Grand Rapids, Mich., for third-party plaintiff P. Phillip Matthews.

Emily Nicklin, Chicago, Ill., for third-party defendant Price Waterhouse.


OPINION

DUGGAN, District Judge.

Plaintiff, Federal Savings & Loan Insurance Corporation ("FSLIC"), brought this action as assignee of all claims of U.S. Mutual Savings Bank, F.S.B., f/k/a U.S. Mutual Savings & Loan Association ("Mutual Savings"), against Mutual Savings and certain officers and directors of Mutual Savings, its subsidiaries and its parent corporation, alleging usurpation of corporate assets, mismanagement, improper, misleading and...

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