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DOUGLAS v. NCNB TEXAS NAT. BANK

No. 92-1572 Summary Calendar.

979 F.2d 1128 (1992)

Donald Wayne DOUGLAS and Douglas Drilling, Inc., Plaintiffs-Counter Defendants-Appellants, v. NCNB TEXAS NATIONAL BANK, Etc., Defendant-Appellee, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Counter Plaintiff-Appellee.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied February 3, 1993.

Attorney(s) appearing for the Case

David L. Hooper, Abilene, Tex., for plaintiffs-counter defendants-appellants.

Charles L. Black, Wagstaff, Alvis, Stubbeman, Seamster & Longacre, Abilene, Tex., for appellee.

Before REAVLEY, DAVIS and DeMOSS, Circuit Judges.

REAVLEY, Circuit Judge:

This appeal involves two promissory notes, one made by Douglas Drilling, Inc. (DDI) and the other made by Donald W. Douglas. Federal Deposit Insurance Corporation, in its corporate capacity (FDIC/corp.), is the present holder of the notes, and it seeks (1) to recover amounts due on the notes and (2) an order requiring DDI to turn over collateral. DDI and Douglas contend that FDIC/corp. cannot collect on the notes because First RepublicBank...

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