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NCNB TEXAS NAT. BANK v. COWDEN

No. 89-1439.

895 F.2d 1488 (1990)

NCNB TEXAS NATIONAL BANK, et al., Plaintiffs-Appellees, v. Candice Beth COWDEN and Billi Terresa Cowden, Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

February 26, 1990.

Attorney(s) appearing for the Case

Marc L. Skeen, Stubbeman, McRae, Sealy, Laughlin & Browder, Inc., Midland, Tex., for defendants-appellants.

Paul R. Aiello, Baker & Botts, Michael L. Graham, Dallas, Tex., Stanley M. Johanson, Vinson & Elkins, Austin, Tex., Stephen Gillham Tipps, Baker & Botts, Houston, Tex., for NCNB Texas Nat. Bank.

William Franklin Carroll, John M. Nevins, Mark J. Zimmermann, Bruce L. Collins, III, Baker, Mills & Glast, R.J. Hobby, Dallas, Tex., for Federal Deposit Ins. Corp., et al.

Before REAVLEY, SMITH and DUHÉ, Circuit Judges.

REAVLEY, Circuit Judge:

In this case we must determine whether the Federal Deposit Insurance Corporation (FDIC), in its capacity as receiver of an insolvent banking institution, had authority in 19881 to transfer the fiduciary appointments held by the insolvent bank to a federally created bridge bank. The district court ruled that federal law authorized FDIC to make such a transfer and that, to the extent it conflicted with FDIC's authority...

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