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CITY OF ARLINGTON, TEX. v. F.D.I.C.

No. 90-7090.

963 F.2d 79 (1992)

CITY OF ARLINGTON, TEXAS, a Municipal Corporation, Plaintiff-Appellee, v. FEDERAL DEPOSIT INSURANCE CORPORATION, etc., Defendants, First Gibraltar Bank, FSB, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied July 15, 1992.

Attorney(s) appearing for the Case

C. Michael Moore, Elizabeth E. Mack, Locke, Purnell, Rain & Harrell, Dallas, Tex., for defendant-appellant.

Timothy S. Durst, Kirk K. Van Tine, Baker & Botts, Christopher J. Bellotto, F.D.I.C., Washington, D.C., for amicus F.D.I.C.

Alan Wilson, Simon, Anisman, Doby, Wilson & Skillern, Lee F. Christie, Jon M. Kelly, Pope, Hardwicke, Christie, Harrell & Kelly, Fort Worth, Tex., for plaintiff-appellee.

Before POLITZ, Chief Judge, BROWN, Circuit Judge, and FELDMAN, District Judge.

POLITZ, Chief Judge:

First Gibraltar Bank, NSB, appeals a summary judgment ordering it to establish and fund an account in the amount of $2,100,000 plus interest in favor of the City of Arlington, Texas. Gibraltar also appeals the denial of its motion for summary judgment. For the reasons stated herein we reverse the summary judgment against Gibraltar and render summary judgment in its favor.

Background

In 1985 First Texas Savings Association...

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