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SUCCESSOR TRUST COMMITTEE v. FIRST STATE BANK

Nos. MO-89-CA-04, MO-89-CA-53 and MO-89-CA-82.

735 F.Supp. 708 (1990)

SUCCESSOR TRUST COMMITTEE OF PERMIAN DISTRIBUTING, INC. EMPLOYEES' PROFIT SHARING PLAN AND TRUST on behalf of its Participants v. FIRST STATE BANK, ODESSA, N.A., Jerry Hallmark, Jimmy Brown, Dan Mosley, David Lyons, Luther Snell and Rick Browning. PERMIAN TANK & MANUFACTURING, INC., and the Advisory Committee of the Permian Tank & Manufacturing, Inc. Profit Sharing Plan and Trust v. FIRST STATE BANK, ODESSA, N.A. and the Federal Deposit Insurance Corporation. Jack MANNING, C. Jack Manning, Bob D. Manning, Bob D. Manning, Judith Creech, Rodney Holley, Barney Irvin, Donald Kirby, Refugio Lopez, Valrey Marler, David McCullum, James McGehee, William Olive, Benny Shelton, Edward Shepard, M.D. Wilkerson, and Wesley Wilkerson v. FIRST STATE BANK, ODESSA, N.A., and the Federal Deposit Insurance Corporation.

United States District Court, W.D. Texas, Midland-Odessa Division.

As corrected February 23, 1990 and April 5, 1990.

Attorney(s) appearing for the Case

William C. Gaston, Stubbeman, McRae, Sealy, Laughlin & Browder, Inc., Midland, Tex., for plaintiffs.

Richard K. Nunley, Odessa, Tex., William H. Bruckner, and Robin E. Selzer, Bruckner & Sykes, Houston, Tex., Randall L. Rouse, Shafer, Davis, McCollum, Ashley, O'Leary & Stoker, Ken Griffin, Odessa, Tex., for consolidated plaintiffs.

Stewart McKeehan, Browning & McKeehan, Odessa, Tex., Pete Baker, and William Franklin Baker, Glandon, Erwin, Scarborough, Baker & Choate, Abilene, Tex., Robert E. Hoblit, Federal Deposit Ins. Corp., Midland, Tex., for defendants and consolidated defendants.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

BUNTON, Chief Judge.

BEFORE THIS COURT came to be heard the above-numbered, consolidated actions for trial to the Bench. Plaintiffs filed their respective actions pursuant to the Employee Retirement Income Security Act of 1974 ("ERISA"), 29 U.S.C. § 1001 et seq. Having heard the testimony adduced by the witnesses and having considered the evidence submitted by the parties, this Court is of the opinion that...

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