Federal Deposit Insurance v. Oconto County State Bank

It appears from the intervening petition of the Federal Deposit Insurance Corporation, hereinafter referred to as the “corporation,” that it is the insurer, under 12 USCA, sec. 264, of the deposits of the Oconto County State Bank. The bank became insolvent on January 4, 1939, and was taken over for liquidation by the Banking Commission of Wisconsin, hereinafter referred to as the “commission.” The corporation paid all insured claims of the depositors. It filed with the commission claims for payment by it of the sums so paid, on April 10, 1939, for $283,310.15; on June 30, 1939, for an…