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IN RE FEDERAL SAV. AND LOAN INS. CORP.

Nos. 89-1961, 89-1980.

881 F.2d 564 (1989)

In re FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, Petitioner. Seth WARD, Appellee, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Appellant.

United States Court of Appeals, Eighth Circuit.

Decided August 7, 1989.

Attorney(s) appearing for the Case

Lawrence F. Bates, Washington, D.C. and George Pike, Jr., Little Rock, Ark., for appellant.

Thomas Ray, Little Rock, Ark., for appellee.

Before ARNOLD, Circuit Judge, ROSS, Senior Circuit Judge, and MAGILL, Circuit Judge.

ARNOLD, Circuit Judge.

Seth Ward brought this breach-of-contract case against Madison Guaranty Savings and Loan Association and Madison Financial Corporation in the Arkansas state courts. Judgment was entered in Ward's favor in the Circuit Court of Pulaski County, Arkansas. Madison Guaranty and Madison Financial appealed to the Arkansas Court of Appeals. Thereafter, the Federal Home Loan Bank Board declared Madison Guaranty insolvent, and the Federal Savings and Loan...

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