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CITY NAT. BANK v. U.S.

No. 89-1359.

907 F.2d 536 (1990)

CITY NATIONAL BANK and Texas Bank, Plaintiffs-Appellants, Cross-Appellees, v. UNITED STATES of America, and Federal Deposit Insurance Corp., In Its Corporate Capacity, Defendants-Appellees, Cross-Appellants.

United States Court of Appeals, Fifth Circuit.

August 2, 1990.

Attorney(s) appearing for the Case

Robert E. Wood, Williford, Collmar & Wood, Dallas, Tex., for plaintiffs-appellants, cross-appellees.

Jerome Madden, U.S. Dept. of Justice, Washington, D.C., William Royal Furgeson, Jr., Raymond E. White, Kemp, Smith, Duncan & Hammond, El Paso, Tex., Sam E. Taylor, Jr., Federal Deposit Ins. Corp., Midland, Tex., for U.S.

Sharon Sivertsen, Federal Deposit Ins. Corp., Washington, D.C., for Federal Deposit Ins. Corp.

Before GOLDBERG, REAVLEY, HIGGINBOTHAM, Circuit Judges.

PATRICK E. HIGGINBOTHAM, Circuit Judge:

City National Bank and Texas Bank filed this suit against the Federal Deposit Insurance Corporation complaining of the FDIC's management as the lead on a loan in which they owned participating interests. The banks originally purchased their interests in the loan from First National Bank of Midland in Midland, Texas. The FDIC acquired the loan through a purchase and assumption transaction after the failure of FNB-Midland.

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