MEYER v. RIGDON

No. 93-3743.

36 F.3d 1375 (1994)

Arthur MEYER (through his estate), Dorothy Watson, Harold Nees, George Patterson, and Ross Strauch (through the co-administrator of his Estate, Arlene Long), as assignees of Federal Deposit Insurance Corp., Plaintiffs-Appellees, v. Robert Albert RIGDON, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided September 22, 1994.


Attorney(s) appearing for the Case

George Plews (argued), Donn H. Wray, Plews & Shadley, Indianapolis, IN, for appellees.

William Garrison (argued), Jeanette E. Bahnke, Saikley, Garrison & Colombo, Danville, IL, for appellant.

Before CUDAHY, KANNE, and ROVNER, Circuit Judges.


KANNE, Circuit Judge.

Robert Rigdon was the president of People's State Bank of Clay County, Indiana. He was also a member of the Bank's board of directors and owned a controlling interest in the Bank. In August of 1984, the Federal Deposit Insurance Corporation ("FDIC") and the Indiana Department of Financial Institutions determined that the Bank was insolvent. Thereafter, the Bank was closed and the FDIC was appointed receiver of the Bank pursuant to 12 U.S.C. ...

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