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HOME SAV. BANK, F.S.B. v. GILLAM

No. 90-35765.

952 F.2d 1152 (1991)

HOME SAVINGS BANK, F.S.B., by its Conservator, the RESOLUTION TRUST CORPORATION, Plaintiff-Appellee, v. Robert B. GILLAM, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided December 31, 1991.

Attorney(s) appearing for the Case

Thomas Amodio, Birch, Horton, Bittner Prestinger & Anderson, Anchorage, Alaska, for plaintiff-appellee.

Howard S. Trickey, Jermain, Dunnagan & Owen, Anchorage, Alaska, for defendant-appellant.

Before TANG, REINHARDT and RYMER, Circuit Judges.

TANG, Circuit Judge:

Robert Gillam is the former chief executive officer and major shareholder of the Home Savings Bank ("Bank"). In 1987, the financially-troubled Bank entered into a Capital Forbearance Agreement with the Federal Home Loan Bank Board ("FHLBB") designed to stem the flow of money out of the Bank. In May 1988, the Bank's Board of Directors created a legal indemnification fund for its officers by transferring $300,000 out of the Bank. The Board also...

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