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F.D.I.C. v. BARHAM

No. 92-4235.

995 F.2d 600 (1993)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, v. Charles C. BARHAM, et al., Defendants, C.A. Reed, Jr., Defendant-Appellant. Charles C. BARHAM, et al., Defendants & Third Party Plaintiffs-Appellants-Cross-Appellees, v. FEDERAL INSURANCE COMPANY, Defendant & Third Party Defendant-Appellee-Cross-Appellant.

United States Court of Appeals, Fifth Circuit.

July 15, 1993.

Attorney(s) appearing for the Case

James A. Rountree, Jay P. Adams, Hudson, Potts & Bernstein, Monroe, LA, for Reed.

F. Drake Lee, Jr., Hershel E. Richard, Jr., Pamela R. Jones, Cook, Yancey, King & Galloway, P.C., Shreveport, LA, for Barham, et al.

P. Michael Jung, Duncan L. Clore, Strasburger & Price, Dallas, TX, F. Lee Butler, Adams & Reese, New Orleans, LA, for Federal Ins. Co.

Barry W. Ashe, Stone, Pigman, Walther, Wittmann & Hutchinson, New Orleans, LA, for amicus, F.D.I.C.

Before REAVLEY, SMITH, and EMILIO M. GARZA, Circuit Judges.

EMILIO M. GARZA, Circuit Judge:

The Federal Deposit Insurance Corporation ("FDIC") brought suit against certain former directors and officers of First National Bank of Ruston ("FNBR"), alleging that the directors had breached their fiduciary duty by authorizing imprudent loans. The directors subsequently filed suit against their insurer, Federal Insurance Company ("Federal"), claiming that Federal had to pay any losses resulting from the FDIC's claims. The district...

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