Pernie Bailey Drilling Company v. Federal Deposit Insurance Corp., as Receiver of First Republicbank of Houston, N.A.

The FDIC appeals from the district court’s remand to state court of this case removed by the FDIC. Because the district court had proper removal jurisdiction over the ease the remand to state court was improper, and we reverse.

I

On July 17, 1987, Pernie Bailey Drilling Company sued First RepublieBank Houston, N.A., in the 164th Judicial District Court of Harris County, Texas, asserting lender liability claims for damages and seeking cancellation of debt owed to the bank. First RepublieBank counterclaimed for a deficiency following foreclosure in excess of $3 million. On July 29, 1988, the…