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FEDERAL DEPOSIT INS. CORP. v. McCULLOUGH

No. 89-7195.

911 F.2d 593 (1990)

FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver of Twin City Savings, FSA, Plaintiff-Appellee, v. Robert L. McCULLOUGH and Mary Nan McCullough, Defendants-Appellants.

United States Court of Appeals, Eleventh Circuit.

September 10, 1990.

Attorney(s) appearing for the Case

W. Eugene Rutledge, J. Michael Cooper, W. Eugene Rutledge & Associates, P.C., Birmingham, Ala., for defendants-appellants.

J. Marshall Gardner, Vickers, Riis, Murray & Curran, Mobile, Ala., for plaintiff-appellee.

Before TJOFLAT, Chief Judge, JOHNSON and ANDERSON, Circuit Judges.

ANDERSON, Circuit Judge:

In D'Oench, Duhme & Co. v. FDIC, 315 U.S. 447, 62 S.Ct. 676, 86 L.Ed. 956 (1942), the United States Supreme Court held that as a matter of federal common law the Federal Deposit Insurance Corporation ("FDIC") could rely upon a defense of estoppel to prohibit parties from relying upon alleged arrangements not clearly appearing in the bank's records.1 The Court reasoned...

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