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F.D.I.C. v. PLATO

No. 91-2310.

981 F.2d 852 (1993)

FEDERAL DEPOSIT INSURANCE CORPORATION, in its Corporate Capacity as Assignee of the Commonwealth Bank, Plaintiff-Appellant, v. Richard M. PLATO, Individually and d/b/a The McMicken Group, et al., Defendants, Richard M. Plato, etc. and Henry Vanderkam, etc., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

January 28, 1993.

Attorney(s) appearing for the Case

Douglas W. Alexander, Douglas L. Hilleboe, Brown Maroney & Oaks Hartline, Austin, TX, Gregory Gore, Washington, DC, for plaintiff-appellant.

Louis H. Salinas, Jr., Butler & Binion, Houston, TX, Ronald D. Haddox, Haddox & Assoc., Baytown, TX, for defendants-appellees.

Before KING, JOHNSON and DUHÉ, Circuit Judges.

KING, Circuit Judge:

The Federal Deposit Insurance Corporation (FDIC) appeals from the district court's judgment against the FDIC as plaintiff and for Richard Plato and Henry Vanderkam (d/b/a the McMicken Group) as counter-plaintiffs. We reverse in all significant respects and remand to the district court.

I.

In 1985, Plato, Vanderkam, and Richard Fuqua1 ("the buyers"), all attorneys, began negotiations with C.E. Vetco...

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