Legal Opinion
Northern Trust Co. v. Federal Deposit Ins. Corp.
District Court, W.D. Oklahoma
Decided October 15, 1985No. Civ 83-506-RPublishedCited by 17 opinions
1Opinion of the Court
ORDER
DAVID L. RUSSELL, District Judge.
Background
Plaintiff Northern Trust Company is an Illinois state banking corporation. Defendant Federal Deposit Insurance Company (“FDIC”) is the Receiver of Penn Square Bank, an Oklahoma national banking corporation that was declared insolvent by the Comptroller of the Currency in July, 1982. Prior to its insolvency, Penn Square originated and participated loans to “upstream” banks such as Northern Trust. Subsequently, in the course of the receivership, the FDIC offset the borrowers’ Penn Square deposit accounts against the balance due on their loans.…
2Cases cited22 opinions
- Scott v. ArmstrongSupreme Court of the United States · 1892
- Swanson v. BixlerCourt of Appeals for the Tenth Circuit · 1984
- First State Bank of Hudson County v. The United States of AmericaCourt of Appeals for the First Circuit · 1979
- Harrison Western Corporation, a Florida Corporation v. Gulf Oil Company, a Pennsylvania CorporationCourt of Appeals for the Tenth Circuit · 1981
- Barclays Bank D. C. O. v. Mercantile National BankCourt of Appeals for the Fifth Circuit · 1973
17 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Leonard v. Dorsey & Whitney LLPCourt of Appeals for the Eighth Circuit · 2009
- Bank of Chicago v. Park National BankAppellate Court of Illinois · 1994
- First Citizens Federal Savings and Loan Association v. Worthen Bank and Trust Company, N.A.Court of Appeals for the First Circuit · 1990
- New Bank of New England, N.A. v. Toronto-Dominion BankDistrict Court, S.D. New York · 1991
- First Bank of WaKeeney v. Peoples State BankCourt of Appeals of Kansas · 1988
12 more not listed; retrieve them via the Exa API.