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FEDERAL DEPOSIT INS. CORP. v. O'HARA'S, INC.

Civ. A. No. EC 88-42-D-D.

713 F.Supp. 966 (1989)

FEDERAL DEPOSIT INSURANCE CORPORATION, in Its Corporate Capacity, Plaintiff, v. O'HARA'S, INC., a Mississippi Corporation, and Sam Dunlap, Individually and as the Officer or Director of O'Hara's, Inc., a Mississippi Corporation, Defendants.

United States District Court, N.D. Mississippi, E.D.

April 21, 1989.

Attorney(s) appearing for the Case

Thomas C. Gerity, Watkins & Eager, Jackson, Miss., for plaintiff.

Dewitt T. Hicks, Jr., Gholson, Hicks & Nichols, Columbus, Miss., and Jason N. McNeel, Louisville, Miss., for defendants.

MEMORANDUM OPINION

DAVIDSON, District Judge.

On April 21, 1987, Jean Porter, Mississippi Commissioner of Banking and Consumer Finance, closed the Bank of North Mississippi ("Bank"). The Federal Deposit Insurance Corporation ("FDIC") was appointed as the Receiver for the Bank on April 22, 1987, by order of the Chancery Court for the First Judicial District of Yalobusha County, Mississippi. Thereafter, the FDIC in its corporate capacity, purchased from the...

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