American National Bank v. Sivers

The plaintiff, American National Bank (American), a participant with the defendant, Oakland Savings Bank (Oakland), in a loan arrangment with a defaulting borrower, appeals from district court order dis missing its claims against the directors of Oakland. The Oakland directors have been made codefendants with that bank in an action seeking damages for misrepresentation and negligence of Oakland in the handling of the loans on behalf of American. The Federal Deposit Insurance Corporation is also joined as a defendant in the action. It is alleged that it assumed control of Oakland after that…