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

Nos. 91-3597, 91-3777.

998 F.2d 404 (1993)

FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity, Plaintiff-Appellant, v. AMERICAN CASUALTY COMPANY OF READING, PA., Garnishee Defendant-Appellee. FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity, Plaintiff, v. Margie ZABORAC, Chester Jacobus, George Baylor, and Harry Tarter, Defendants-Appellants, Wayne Grove and Linda Grove, Defendants, and American Casualty Company of Reading, Pa., Garnishee Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided June 21, 1993.

Attorney(s) appearing for the Case

Lowell E. Sachnoff (argued), Mark A. Kaprelian, Barry S. Rosen, Patrick M. Collins, Sachnoff & Weaver, Chicago, IL, Catherine Topping, F.D.I.C., Open Bank & Corporate Litigation, Washington, DC, Tim Swain, Donald M. Hartshorn, Swain, Hartshorn & Scott, Peoria, IL, for F.D.I.C.

Louis C. Roberts, Priscilla A. May, Raymond J. Jast (argued), Joanne Matousek, Peterson & Ross, Chicago, IL, for American Cas. Co.

Mary W. McDade, Quinn, Johnston, Henderson & Pretorius, Peoria, IL, Joseph Anthony, Paul M. Floyd, Fruth & Anthony, Minneapolis, MN, Ross Morris, Cuba, IL, for Margie Zaborac, Defendant-Appellant Chester Jacobus, George Baylor and Harry Tarter.

Before KANNE and ROVNER, Circuit Judges, and WILL, Senior District Judge.

KANNE, Circuit Judge.

The Federal Deposit Insurance Corporation ("FDIC") appeals the district court's grant of summary judgment in favor of American Casualty Company ("ACC"). The district court held i) that the regulatory agency provision in a directors' and officers' liability insurance policy excludes any claim brought by the FDIC, ii) that the insured versus insured exclusion in that contract does not prevent the FDIC from pursuing this action, and iii) the enforcement...

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