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IN RE PERNIE BAILEY DRILLING CO., INC.

Bankruptcy No. 486-00380-LO-7, Adv. No. 87-AV-50150.

111 B.R. 565 (1990)

In re PERNIE BAILEY DRILLING COMPANY, INC., Debtor. Hugh William THISTLETHWAITE, Jr., Trustee of Pernie Bailey Drilling Company, Inc., Plaintiff, v. FEDERAL DEPOSIT INSURANCE CORPORATION as Receiver of First RepublicBank Houston N.A., Surviving Entity Following Merger with Interfirst Bank Fannin, Defendant.

United States Bankruptcy Court, W.D. Louisiana, Lafayette-Opelousas Division.

February 28, 1990.

Attorney(s) appearing for the Case

Jack Caldwell, with Milling, Benson, Woodward, Hillyer, Pierson & Miller, Lafayette, La., for Trustee.

Robert Daniels, with Hirsch & Westheimer, Houston, Tex., for FDIC.

MEMORANDUM OPINION

W. DONALD BOE, Jr., Bankruptcy Judge.

I. Background of FDIC's Motion For Summary Judgment

On October 28, 1987, the Trustee for the bankruptcy estate of Pernie Bailey Drilling Company (hereinafter "Pernie Bailey" or "Debtor") filed a complaint commencing this adversary proceeding against the First RepublicBank Fannin, N.A. (hereinafter "First RepublicBank" or "the Bank"). Count I sets forth a claim under 11 U.S.C. Sec....

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