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FEDERAL DEPOSIT INS. CORP. v. MOSS

No. 69253.

831 P.2d 613 (1991)

FEDERAL DEPOSIT INSURANCE CORPORATION, as Liquidating Agent of the Bank of Newcastle, Newcastle Oklahoma, Appellant, v. Ted A. MOSS, an individual, Appellee.

Supreme Court of Oklahoma.

Rehearing Denied June 16, 1992.

Attorney(s) appearing for the Case

Gregory E. Gore, Fred S. Morgan, Reynolds, Ridings & Hargis, Oklahoma City, for appellant.

John F. Percival, Culp, Heath, Sushnik, Percival & Percival, Oklahoma City, for appellee.

SUMMERS, Justice.

As a result of the downturn in Oklahoma's economy during the 1980's the Federal Deposit Insurance Corporation has become a major litigant in many courthouses. In today's case the FDIC has functioned in two capacities: one as receiver of a failed bank to which money was owed on a note, and another as insurer of a second failed bank alleged to owe money to a depositor. The FDIC in these two capacities is brought...

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