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FEDERAL DEPOSIT INS. CORP. v. JENKINS

No. 88-3798.

888 F.2d 1537 (1989)

FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity, Plaintiff-Appellee, v. Ernest P. JENKINS, et al., Lynne Hardin, Defendants-Appellants.

United States Court of Appeals, Eleventh Circuit.

November 27, 1989.

Attorney(s) appearing for the Case

Jonathan Cohen, Shutts & Bowen, Don A. Lynn, Miami, Fla., Jenkins, Walters & Kaiser, P.A., St. Petersburg, Fla., for defendants-appellants.

Robert Pass, Carlton, Fields, Ward, Emmanuel, Smith & Cutler, Tampa, Fla., for plaintiff-appellee.

Eric Summergrad, SEC, Joseph O. Click, Paul Gonson, Daniel L. Goelzer and Jacob H. Stillman, Washington, D.C., amicus curiae.

Before FAY and HATCHETT, Circuit Judges, and HOFFMAN, Senior District Judge.

WALTER E. HOFFMAN, Senior District Judge:

This appeal concerns whether the Federal Deposit Insurance Corporation (FDIC) is entitled to an absolute priority to assets of officers, directors and other third parties who may have been responsible, at least in part, for the failure of Park Bank of Florida (Park Bank) and a purchase and assumption transaction by the FDIC. For the reasons stated below, we find that the FDIC is...

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