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IN RE PERNIE BAILEY DRILLING CO., INC.

Bankruptcy No. 486-00380-LO-07, Adv. No. 87-AV-50150.

131 B.R. 53 (1991)

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 Republic Bank Houston, N.A. Surviving Entity Following Merger With Interfirst Bank Fannin, Defendant.

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

June 28, 1991.

Attorney(s) appearing for the Case

Hugh William Thistlethwaite, Jr., Opelousas, La., Trustee.

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

Robert D. Daniel, Hirsch & Westheimer, Houston, Tex., for FDIC.

Robert O. Thomas, Jackson & Walker, Houston, Tex., for NCNB Texas Nat. Bank.

MEMORANDUM OPINION

W. DONALD BOE, Jr., Bankruptcy Judge.

This matter came before the court on a motion for partial summary judgment filed on behalf of the defendants, NCNB Texas National Bank and the Federal Deposit Insurance Corporation, and a cross-motion for partial summary judgment filed on behalf of the Chapter 7 trustee.

Facts

Pernie Bailey Drilling Company, the debtor in the bankruptcy case, was a company organized under the...

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