FEDERAL DEPOSIT INS. CORP. v. BELL

No. 88-2167.

892 F.2d 64 (1989)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff-Appellee, Continental Illinois National Bank & Trust Company of Chicago, Plaintiff, Federal Deposit Insurance Corporation, as Receiver of First National Bank and Trust Company of Oklahoma City, Oklahoma, Plaintiff-Counterclaim Defendant, v. Ray BELL; Atex Oil Company; Atex Oil Company of Texas; Atex Stations, Inc.; Atex Refining Company; Anderson-Prichard Pipe Line Corporation; Atex Oil Company of Oklahoma Inc.; Anson Pipeline Co.; Anson Refining Co.; Atex Pipeline Co.; and Oklahoma Pipeline Co., Defendants-Appellants. OKLAHOMA PIPELINE CO.; Atex Pipeline Co.; and Atex Oil Company of Oklahoma Inc., Defendants-Third-Party Plaintiffs-Appellants, and Meridith R. Sheets, Inc., Defendant, v. Trudy PERRY, Third-Party Plaintiff.

United States Court of Appeals, Tenth Circuit.

Rehearing Denied February 5, 1990.


Attorney(s) appearing for the Case

Oliver S. Howard (Theodore Q. Eliot and Pamela S. Anderson with him on the brief) of Gable & Gotwals, Tulsa, Okl., for plaintiff-appellee.

Paul Tobin (Murray Cohen with him on the brief) of Cohen, Pluess & Tobin, P.C., Oklahoma City, Okl., for defendants-appellants.

Before MOORE, BRORBY and EBEL, Circuit Judges.


JOHN P. MOORE, Circuit Judge.

The question presented by this appeal is whether the rule of Langley v. Federal Deposit Ins. Corp., 484 U.S. 86, 108 S.Ct. 396, 98 L.Ed.2d 340 (1987), applies to an alleged failure to disclose a material fact. We hold that it does, and therefore the Federal Deposit Insurance Corporation is entitled to the shield provided by 12 U.S.C. § 1823(e).

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