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F.D.I.C. v. AMERICAN CAS. CO. OF READING, PA.

Nos. 91-6147, 91-6148.

975 F.2d 677 (1992)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff-Intervenor/Appellant, v. AMERICAN CASUALTY COMPANY OF READING, PA., Defendant-Appellee.

United States Court of Appeals, Tenth Circuit.

September 1, 1992.

Attorney(s) appearing for the Case

Eugene J. Comey (Robert F. Schiff and Sean M. Fitzpatrick with him on the brief) of Comey & Boyd, Washington, D.C. (John Henry Rule and David L. Bryant of Gable & Gotwals, Tulsa, Okl., with him on the brief and Katherine H. Haygood, Sr. Atty., F.D.I.C., Washington, D.C., of counsel) for plaintiff-intervenor/appellant.

Raymond J. Jast (Michael Tone, Louis C. Roberts, Brian H. Boyle, and Joanne J. Matousek with him on the brief) of Peterson & Ross, Chicago, Ill., for defendant-appellee.

Before: MOORE, ENGEL and TACHA, Circuit Judges.

ENGEL, Senior Circuit Judge.

The FDIC appeals from a grant of summary judgment in favor of American Casualty Company. The district court held that American Casualty rightfully refused coverage under a director's and officer's liability insurance policy for loss due to an action brought by the FDIC against former directors of an insolvent bank. At issue is whether an insurance policy containing a "regulatory exclusion" and an "insured v. insured" exclusion provides...

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