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RESOLUTION TRUST CORP. v. EVERHART

No. 93-2634.

37 F.3d 151 (1994)

RESOLUTION TRUST CORPORATION, in its corporate capacity, Plaintiff-Appellant, v. Edgar S. EVERHART; Robert F. Babb; Hugh L. Dougherty, Jr.; Thomas N. Downing; Philip S. Farrand; Roy B. Martin, Jr.; Corbin B. White; Barkley C. Winn; Harry Knickerbocker; Mrs. Frank M. Miles; Nations Bank, N.A. (formerly Sovran Bank, N.A.), Trustee of the Frank M. Miles Family Trust A and the Frank M. Miles Marital Trust B, Defendants-Appellees, and Richard Hamlet; Frank M. Miles; Patricia M. King, Defendants, Virginia Beach Federal Savings Bank, Party in Interest.

United States Court of Appeals, Fourth Circuit.

Decided October 13, 1994.

Attorney(s) appearing for the Case

ARGUED: James Arthur Johnson, Semmes, Bowen & Semmes, Baltimore, MD, for appellant. John K. Villa, Williams & Connolly, Washington, DC; Francis Nelson Crenshaw, Crenshaw, Ware & Martin, P.L.C., Norfolk, VA, for appellees. ON BRIEF: Richard A. Froehlinger, III, Semmes, Bowen & Semmes, Baltimore, MD; David M. Fitzgerald, Senior Counsel, RTC Professional Liability Section, Washington, DC, for appellant. John D. Cline, Williams & Connolly, Washington, DC; Timothy A. Coyle, Martha A. Poindexter, Crenshaw, Ware & Martin, P.L.C., Norfolk, VA; Jerrold G. Weinberg, Weinberg & Stein, Norfolk, VA; Melvin J. Radin, Norfolk, VA, Charles M. Lollar, Peter S. Lake, Heilig, McKenry, Fraim & Lollar, Norfolk, VA, Robert W. McFarland, Jerry Lee Bowman, McGuire, Woods, Battle & Boothe, Norfolk, VA, for appellees.

Before ERVIN, Chief Judge, MURNAGHAN, Circuit Judge, and PHILLIPS, Senior Circuit Judge.

Affirmed by published opinion. Chief Judge ERVIN wrote the opinion, in which Judge MURNAGHAN and Senior Judge PHILLIPS joined.

OPINION

ERVIN, Chief Judge:

Atlantic Permanent Federal Savings and Loan Association ("AP"), a federally chartered and federally insured thrift institution, was placed under the receivership of the Resolution Trust Corporation ("RTC") on December 8, 1989. On December 7, 1992, RTC sued several of AP's former directors and officers...

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