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UNIVERSAL ASSURORS LIFE INS. CO. v. HOLTSCLAW

No. 92-2744.

994 F.2d 467 (1993)

UNIVERSAL ASSURORS LIFE INSURANCE COMPANY, Plaintiff, Commerce Bank of St. Joseph, N.A., Appellant, v. Gary HOLTSCLAW, Third-Party Defendant, Federal Deposit Insurance Corporation, Appellee.

United States Court of Appeals, Eighth Circuit.

Decided May 27, 1993.

Attorney(s) appearing for the Case

Creath S. Thorne, St. Joseph, MO (Ronald S. Reed, Jr., on the brief), for appellant.

J. Scott Watson, Washington, DC, argued (Richard J. Osterman, Jr. and Ann S. DuRoss, on the brief), for appellee.

Before JOHN R. GIBSON, Circuit Judge, HEANEY, Senior Circuit Judge, and BOWMAN, Circuit Judge.

HEANEY, Senior Circuit Judge.

This appeal presents the question of the proper construction of an agreement entered into by the Federal Deposit Insurance Corporation ("FDIC") and the purchaser of assets of an insolvent bank. Commerce Bank of St. Joseph, N.A., ("Commerce") which purchased some of the assets and liabilities of First National Bank of St. Joseph, Missouri, ("First National") asserts that the FDIC has agreed to indemnify Commerce for any liability it may...

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