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IN RE COLLINS SECURITIES CORP.

No. 92-2708.

998 F.2d 551 (1993)

In re COLLINS SECURITIES CORPORATION, Debtor. Harvey BELL, Trustee for the Liquidation of Collins Securities Corporation, Plaintiff-Appellant, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as receiver for FirstSouth Federal Savings and Loan Association; Federal Deposit Insurance Corporation, as Successor to Federal Savings and Loan Insurance Corporation, Insurance Division; Defendants-Appellees, Securities Investor Protection Corporation, Objector-Appellant.

United States Court of Appeals, Eighth Circuit.

Decided June 30, 1993.

Attorney(s) appearing for the Case

Michael E. Don, Washington, DC, argued (Kenneth J. Caputo and Theodore H. Focht, Washington, DC and William L. Owen, Little Rock, AR, on the brief), for appellant.

Z. Scott Birdwell, Washington, DC, argued (Thomas A. Schulz, Charles L. Cope, II, and Colleen Bombardier, Washington, DC, on the brief) and Barbara W. Webb and Christopher O. Parker, Little Rock, AR, on the separate brief of FirstSouth), for appellees.

Before LOKEN, HANSEN, Circuit Judges, and MURPHY, District Judge.

LOKEN, Circuit Judge.

The trustee for bankrupt Collins Securities Corporation filed a $100,000 deposit insurance claim with Federal Deposit Insurance Corporation's predecessor, alleging an insured account with insolvent FirstSouth Federal Savings and Loan Association of Pine Bluff, Arkansas. FDIC denied the claim because FirstSouth had paid the account balance to Collins's assignor, albeit mistakenly, long before the bank failed. The trustee seeks judicial review...

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