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FDIC v. TEXAS BANK OF GARLAND

No. 05-88-01451-CV.

783 S.W.2d 604 (1989)

FEDERAL DEPOSIT INSURANCE CORPORATION, Appellant, v. TEXAS BANK OF GARLAND, Appellee.

Court of Appeals of Texas, Dallas.

Rehearing Denied October 6, 1989.

Attorney(s) appearing for the Case

Robert J. Clary and Phillip Adkins, Dallas, for appellant; Ann S. Duross, Gregory E. Gore, and Sharon Powers Silversten, Washington, D.C., of counsel.

James D. Bennett, Dallas, for appellee.

Before HOWELL, THOMAS and OVARD, JJ.

OVARD, Justice.

Texas Bank of Garland (TBG) sued Commerce Bank Plano (CBP) for wrongful dishonor of a written instrument, entitled "Irrevocable Letter of Credit Number 0056" (LOC) and signed by Sam Thomas as chief executive officer and chairman of the board of CBP. The Federal Deposit Insurance Corporation (FDIC) intervened after being appointed receiver for CBP. TBG and the FDIC both moved for summary judgment. The trial court granted TBG's motion for summary judgment...

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