Legal Opinion
Federal Deposit Insurance v. Haines Pipeline Construction, Inc.
District Court, W.D. Oklahoma
Decided September 11, 1985No. Civ-85-1564-TPublishedCited by 2 opinions
1Opinion of the Court
ORDER
BACKGROUND
RALPH G. THOMPSON, District Judge.
In this action the FDIC, as receiver for Penn Square Bank, is suing the makers and guarantors of a note to Penn Square. The FDIC is also suing Union Bank and Trust Company, another creditor of the defendant, because Union Bank and Penn Square held competing security interests in the same collateral. The security given for the Penn Square note and also pledged to Union Bank was the proceeds from the borrower’s construction contracts with a New Mexico utilities company. Apparently, the borrower paid the contract proceeds to Union Bank in…
2Cases cited9 opinions
- Federal Deposit Insurance Corporation v. Citizens Bank & Trust Company of Park Ridge, IllinoisCourt of Appeals for the Seventh Circuit · 1979
- Federal Deposit Insurance Corporation, in Its Corporate Capacity, Plaintiff v. James H. Petersen, Henry Heidtbrink, and Jerry R. DunnCourt of Appeals for the Tenth Circuit · 1985
- Peyton v. McCaslinSupreme Court of Oklahoma · 1966
- Easterling v. FerrisSupreme Court of Oklahoma · 1982
- Baum v. Great Western Cities, Inc., of New MexicoCourt of Appeals for the Tenth Circuit · 1983
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3Cited by2 opinions
- Federal Sav. and Loan Ins. Corp. v. MusacchioDistrict Court, N.D. California · 1988
- Rauscher Pierce Refsnes, Inc. v. Federal Deposit Insurance CorporationCourt of Appeals for the Fifth Circuit · 1986