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LEVERSO v. SOUTHTRUST BANK OF AL., NAT. ASSOC.

No. 93-6017.

18 F.3d 1527 (1994)

Francis M. LEVERSO, Elaine E. Leverso, Frank Klevitz, Mary Klevitz, Plaintiffs-Counter-Defendants-Appellees, Stephen D. Lieberman, Marlene F. Lieberman, Henry E. Cohen, Joanna S. Cohen, Daniel B. Morgan, J.B. Morgan, Norman L. Grier, Louella Boucher, Investments Nationale Limited Partnership, A Florida limited partnership; individually and on behalf of all others similarly situated, Plaintiffs, Rudolph Hajek, Jean Hajek, Plaintiffs-Counter-Defendants, v. SOUTHTRUST BANK OF AL., NAT. ASSOC., Defendant-Counter-Claimant-Appellee, Wheeler Bondholders, Claimant-Appellant, Shearson Lehman Hutton, Inc., Movant.

United States Court of Appeals, Eleventh Circuit.

April 15, 1994.

Attorney(s) appearing for the Case

Frank O. Burge, Jr., Burge & Wettermark, Birmingham, AL, Robert M. Sedgwick, Holtzmann, Wise & Shepard, New York City, for claimant-appellant.

Robert H. Rutherford, Burr & Forman, Birmingham, AL, Frank M. Wilson, Landis Sexton, Beasley, Wilson, Allen, Main & Crow, Montgomery, AL, for defendant-counter-claimant-appellee.

Before BLACK, Circuit Judge, JOHNSON and HENDERSON, Senior Circuit Judges.

BLACK, Circuit Judge:

Following a Florida development district bond default, class representatives of the class action suit underlying this appeal entered into a settlement agreement on behalf of the bondholders, the trustee of the bond proceeds, and other third parties. The agreement included a distribution plan that allocated the net settlement funds among the bondholders according to a pro rata share of the bondholders...

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