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FDIC v. REPUBLICBANK LUBBOCK, N.A., LUBBOCK, TEX.

No. 88-1636.

883 F.2d 427 (1989)

FEDERAL DEPOSIT INSURANCE CORP., In Its Capacity as Receiver of Texas Bank & Trust Co., Lubbock, Texas, and Federal Deposit Insurance Corp., Plaintiff-Appellants, v. REPUBLICBANK, LUBBOCK, N.A., LUBBOCK, TEXAS, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

Rehearing and Rehearing Denied November 7, 1989.

Attorney(s) appearing for the Case

T. Ray Guy, Jenkens & Gilchrist, Dallas, Tex., Gregory E. Gore, Ann S. DuRoss, FDIC, Washington, D.C., for plaintiff-appellants.

Donald M. Hunt, Carr, Evans, Fouts & Hunt, Lubbock, Tex., for defendant-appellee.

Before GARZA, REAVLEY and POLITZ, Circuit Judges.

Rehearing and Rehearing En Banc Denied November 7, 1989.

REAVLEY, Circuit Judge:

The Federal Deposit Insurance Corporation (FDIC), successor to insolvent Texas Bank and Trust Company (Texas Bank), holds a note secured by a lien on the building which had been occupied by Texas Bank. By this action FDIC seeks to prime a superior lien owned by RepublicBank on the ground that the latter's lien was a "secret agreement" within 12 U.S.C. § 1823(e). The district...

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