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GRACE-CAJUN OIL CO. v. FED. DEP. INS. CORP.

No. 88-4481.

882 F.2d 1008 (1989)

GRACE-CAJUN OIL CO. NO. 3, Plaintiff-Appellant, v. Federal Deposit Insurance Corporation, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied October 16, 1989.

As Amended November 13, 1989.

Attorney(s) appearing for the Case

Michael R. Graber, Lake Charles, La., for plaintiff-appellant.

R. Patrick Vance, Carl D. Rosenblum, Jones, Walker, New Orleans, La., for amicus curiae.

Michael H. Rubin, Kelly Wilkinson, Baton Rouge, La., for defendant-appellee.

Before POLITZ and JOLLY, Circuit Judges, and HUNTER, District Judge.

POLITZ, Circuit Judge:

Grace-Cajun Oil Company No. 3 seeks to recover from MBank, formerly Mercantile National Bank at Dallas, a creditor holding a security interest in oil and gas production proceeds, a proportionate share of certain well drilling and completion costs. The district court granted MBank's motion for summary judgment and dismissed the complaint. For the reasons assigned we reverse and remand for further proceedings.

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