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F.D.I.C. v. NIHISER

No. 91-CV-2475.

799 F.Supp. 904 (1992)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, v. Galen R. NIHISER, Robert M. Rich, Jr., Gregory York, Defendants.

United States District Court, C.D. Illinois.

February 27, 1992.

Attorney(s) appearing for the Case

Cheryl Ragel Stickel, Mohan Alewelt Prillaman & Adami, Springfield, Ill., Wendi Sloane Weitman, W. Scott Porterfield, Barack Ferrazzano Kirschbaum & Perlman, Chicago, Ill., and Jody Silverman, Sr. Atty., F.D.I.C., Rosemont, Ill., for plaintiff.

Peter C. Alexander, Alexander Law Offices, Savoy, Ill., Henry C. Szesny, Robert F. Ward, Pope Ballard Shepard & Fowle Ltd., Chicago, Ill., Harold F. Tenney, Carl J. Tenney, Decatur, Ill., C.W. Dukes, and John F. Martin, Dukes Martin Helm & Ryan, Ltd., Danville, Ill., for defendants.

ORDER

BAKER, District Judge.

The Federal Deposit Insurance Corporation (FDIC) brought this action as the receiver of Mt. Zion State Bank (Mt. Zion) against three former officers and directors of Mt. Zion. The FDIC took control of the bank on November 4, 1988. The FDIC claims that the defendants engaged in unsound loan practices causing the bank to suffer substantial losses and impairment of its assets totalling at least $1,089,100.00. In the three count...

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