Legal Opinion
Lamberton v. Federal Deposit Ins.
Court of Appeals for the Third Circuit
Decided February 8, 1944No. 8389PublishedCited by 6 opinions
1Opinion of the Court
GOODRICH, Circuit Judge.
On December 20, 1941, the Federal Deposit Insurance Corporation1 and the Lamberton National Bank of Franklin2 executed a contract for the sale of all the Bank’s assets to the F.D.I.C. This sale was part of a transaction whereby a second bank, the Exchange Bank and Trust Company,3 was to take over the deposit liabilities and acceptable assets of the Bank, and was to receive the money paid by the F.D. I.C. to the Bank. The depositors of the Bank were to then become depositors of the Purchasing Bank. The statutory authorization for this transaction was subsection (n) (4)…
2Cases cited1 opinion
- Thomas P. Nichols & Son Co. v. National City BankMassachusetts Supreme Judicial Court · 1943
3Cited by6 opinions
- Brown v. New York Life Ins. Co.Court of Appeals for the Ninth Circuit · 1945
- Federal Deposit Ins. Corp. v. Martinez AlmodovarDistrict Court, D. Puerto Rico · 1987
- Federal Deposit Ins. v. AlkerCourt of Appeals for the Third Circuit · 1945
- Federal Deposit Insurance v. CloonanSupreme Court of Kansas · 1948
- Federal Deposit Ins. v. AlkerCourt of Appeals for the Third Circuit · 1947
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