SENIOR UNSECURED CREDITORS' COMMITTEE v. FDIC

Civ. A. Nos. CA3-88-2871-D, CA3-89-1927-D, CA3-89-2361-D and CA3-89-2559-D.

749 F.Supp. 758 (1990)

SENIOR UNSECURED CREDITORS' COMMITTEE OF FIRST REPUBLICBANK CORPORATION, et al., Plaintiffs, v. FEDERAL DEPOSIT INSURANCE CORPORATION, et al., Defendants.

United States District Court, N.D. Texas, Dallas Division.

October 17, 1990.


Attorney(s) appearing for the Case

William F. Sheehan, Jeffrey C. Martin (argued), Bruce C. Swartz and Christopher E. Palmer of Shea & Gardner, Washington, D.C., Sp. Litigation Counsel, for plaintiffs.

Robert W. Patterson, John L. Rogers, III (argued), Peter F. Lovato, III, William J. McKenna, Robert F. Reklaitis and Lawrence F. Bates of Hopkins, Sutter & Clark, Dallas, Tex., for defendants.


FITZWATER, District Judge:

In 1988 the Federal Deposit Insurance Corporation ("FDIC") undertook "the largest bank rescue effort in history,"1 providing $1 billion in open bank assistance to the flagship bank of the First RepublicBank Corporation ("FRBC") integrated banking system. The assistance effort proved unsuccessful and the flagship bank failed. FRBC's other 40 subsidiary banks were also declared insolvent and closed. FRBC and its...

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