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IN RE LIQUIDATION OF CEDAR VALE STATE BANK

No. 71,562

257 Kan. 497 (1995)

In the Matter of the Liquidation of CEDAR VALE STATE BANK, CEDAR VALE, KANSAS, a Kansas Banking Corporation.

Supreme Court of Kansas.

Opinion filed April 21, 1995.

Attorney(s) appearing for the Case

J. Greg Kite, of Wichita, argued the cause and was on the briefs for appellants.

Matthew D. Flesher, of Morrison & Hecker, of Wichita, argued the cause, and Victor S. Nelson and Jack C. Marvin, of the same firm, were with him on the brief for appellee.

The opinion of the court was delivered by

DAVIS, J.:

The Federal Deposit Insurance Corporation (FDIC), as receiver for the insolvent Cedar Vale State Bank (CVSB), petitioned the Chautauqua County District Court for termination of its receivership. CVSB's shareholders filed a general objection to termination without specifying the precise grounds for their objections. The basis for objection, as determined by the court upon questioning CVSB counsel, was that...

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