Legal Opinion
Parsons Steel, Inc. v. First Alabama Bank of Montgomery, N.A.
Court of Appeals for the First Circuit
Decided June 25, 1982No. 81-7556PublishedCited by 61 opinions
1Opinion of the Court
MERRITT, Circuit Judge:
The issue in this case is whether a bank is prohibited under the 1970 Amendments to the Bank Holding Company Act, 12 U.S.C. §§ 1972-75 (1976), from conditioning additional credit on a change of corporate management and majority stock ownership. Parsons Steel, Inc. of Montgomery was a wholly owned subsidiary of the plaintiff company, Parsons Steel, Inc., of Mobile, owned by co-plaintiffs Melba and Jim Parsons. The subsidiary had been heavily financed on an on-going basis since 1976 by the defendant First Alabama Bank of Montgomery. By the fall of 1978, the bank had…
2Cases cited6 opinions
- Arthur Swerdloff and Louis Swerdloff v. Miami National Bank, a National Banking AssociationCourt of Appeals for the Fifth Circuit · 1978
- Paul Kermit Costner, Jr. v. The Blount National Bank of Maryville, TennesseeCourt of Appeals for the Sixth Circuit · 1978
- Larry E. Clark and J. Elliott Knoll v. United Bank of Denver National Association, a National Banking AssociationCourt of Appeals for the Tenth Circuit · 1973
- Willis M. Duryea, Jr. v. The Third Northwestern National Bank of Minneapolis, a National Banking Association Bruce Winslow, John Doe and Mary RoeCourt of Appeals for the Third Circuit · 1979
- Robert G. McCoy Linda E. McCoy and James A. McCoy v. The Franklin Savings Association and Mortgage Management CompanyCourt of Appeals for the Seventh Circuit · 1980
1 more not listed; retrieve them via the Exa API.
3Cited by61 opinions
- Parsons Steel, Inc. v. First Alabama BankSupreme Court of the United States · 1986
- Mid-State Fertilizer Co., Lasley Kimmel, and Maxine Kimmel v. Exchange National Bank of ChicagoCourt of Appeals for the Seventh Circuit · 1989
- Rhett G. Campbell, Trustee, Joseph C. Canizaro, Intervenor-Appellant v. Wells Fargo Bank, N.A.Court of Appeals for the Fifth Circuit · 1986
- Rebecca Otwell Baggett, Teressa Latrelle Otwell, Frances Otwell Bagby v. First National Bank of GainesvilleCourt of Appeals for the First Circuit · 1997
- Joseph Rae v. Union Bank, a Banking CorporationCourt of Appeals for the Ninth Circuit · 1984
56 more not listed; retrieve them via the Exa API.