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GULLEY v. SUNBELT SAV., FSB

Nos. 89-1623, 89-1624.

902 F.2d 348 (1990)

Michael GULLEY, et al., Plaintiffs-Appellants, v. SUNBELT SAVINGS, F.S.B., et al., Defendants-Appellees. VALLEY RANCH DEVELOPMENT CO., LTD., et al., Plaintiffs-Appellants, v. SUNBELT SAVINGS, FSB, et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied June 27, 1990.

Attorney(s) appearing for the Case

Richard Jackson, Tresi Moore Freemyer, Richard Jackson & Assoc., Dallas, Tex., for plaintiffs-appellants.

Thomas E. Kurth, Haynes and Boone, Dallas, Tex., for Sunbelt Savings, FSB.

Kirk K. Van Tine, James M. Silver, Washington, D.C., for FSLIC.

James A. Hendriksen, Sr. Trial Atty., Thomas J. Segal, Assoc., Chief Counsel, Washington, D.C., for Office of Thrift Supervision.

Before GOLDBERG, REAVLEY and HIGGINBOTHAM, Circuit Judges.

REAVLEY, Circuit Judge:

Valley Ranch Development Company and Michael Gulley each brought a state law action seeking a declaration that, pursuant to the Texas Uniform Fraudulent Transfer Act, Tex.Bus. & Com.Code Ann. §§ 24.001-.013 (Vernon 1987), the transfer of assets by the Federal Savings and Loan Insurance Corporation (FSLIC) to Sunbelt Savings, FSB was void. The cases were removed to federal court where judgments were entered against both plaintiffs...

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