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FEDERAL DEPOSIT INS. CORP. v. BANK OF BOULDER

No. 86-1071.

865 F.2d 1134 (1989)

FEDERAL DEPOSIT INSURANCE CORPORATION, a United States corporation, Plaintiff-Appellant, v. BANK OF BOULDER, a Colorado corporation, Defendant-Appellee.

United States Court of Appeals, Tenth Circuit.

Order Granting Rehearing December 5, 1988.

Attorney(s) appearing for the Case

Jane Rossowski, of counsel, Federal Deposit Ins. Corp., Washington, D.C. (Lawrence F. Bates, of counsel, Federal Deposit Ins. Corp., Washington, D.C., Robert A. Zupkus and Frederick W. Klann of White & Steele, P.C., Denver, Colo., on the briefs), for plaintiff-appellant.

Richard L. Eason (Dean G. Panos, with him on the brief) of Eason, Sprague & Wilson, P.C., Denver, Colo., for defendant-appellee.

Before McKAY, McWILLIAMS, and BALDOCK, Circuit Judges.

Order Granting Rehearing En Banc December 5, 1988.

I.

McKAY, Circuit Judge.

On June 30, 1982, Bank of Boulder issued a standby letter of credit in the amount of $27,000.00 to Dominion Bank of Denver, a state-chartered commercial bank with deposits insured by the Federal Deposit Insurance Corporation (FDIC). On September 30, 1983, Dominion Bank was declared insolvent and ordered closed by the Colorado State...

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