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McCUEN v. AMERICAN CAS. CO.

Nos. 90-2901, 90-2993.

946 F.2d 1401 (1991)

Charles McCUEN, John McDowell, Ben Galer, E. Eugene McWhirter, Dale Garrels, A.M. Patterson, Appellees/Cross-Appellants, v. AMERICAN CASUALTY COMPANY OF READING, PENNSYLVANIA, Appellant/Cross-Appellee, Federal Deposit Insurance Corporation, Intervenor/Appellee/Cross-Appellant.

United States Court of Appeals, Eighth Circuit.

Decided October 17, 1991.

Rehearing and Rehearing Denied November 26, 1991.

Attorney(s) appearing for the Case

Michael P. Tone, Chicago, Ill., argued (Michael P. Tone, Anne Fiedler, Chicago, Ill., and Gerald D. Goddard, Burlington, Iowa, on the brief), for appellant.

Thomas Vilsack, Mt. Pleasant, Iowa, argued (Robert F.P. Waterman and Michael P. Byrne, Davenport, Iowa, and Thomas J. Vilsack, Mt. Pleasant, Iowa, on the brief), for appellee, McCuen.

Maria Beatrice Valdez, Washington, D.C., argued (Eugene J. Comey, Robert F. Schiff, Ann S. DuRoss, Colleen B. Bombardier, Richard J. Osterman, Jr., Maria Beatrice Valdez, Washington, D.C. and William M. Graham, Des Moines, Iowa, on the brief), for appellant, FDIC.

Before ARNOLD, JOHN R. GIBSON, and BEAM, Circuit Judges.

Rehearing and Rehearing En Banc Denied November 26, 1991.

ARNOLD, Circuit Judge.

This appeal involves a declaratory judgment action brought by former directors and officers of Capitol Savings and Loan Association of Mt. Pleasant, Iowa, to determine the coverage provided by a policy issued by American Casualty Company.

On January 6, 1987, Capitol Federal Savings Bank ("Capitol Federal") sued the directors and officers of Capitol Savings and

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