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HANCOCK FINANCIAL CORP. v. FEDERAL SAV. & L. INS. CORP.

Civ. No. 72-102.

360 F.Supp. 1125 (1973)

HANCOCK FINANCIAL CORPORATION, Plaintiff, v. FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, Defendant.

United States District Court, D. Arizona.

June 19, 1973.

Attorney(s) appearing for the Case

Robert R. Thornton of Hahn, Cazier, Hoegh & Leff, Los Angeles, Cal., Philip E. von Ammon of Fennemore, Craig, von Ammon & Udall, Phoenix, Ariz., for plaintiff.

Frederick K. Steiner, Jr. of Snell & Wilmer, Phoenix, Ariz., Paul E. McGraw, Deputy Gen. Counsel, and Daniel J. Goldberg, Associate Gen. Counsel, Washington, D. C., for defendant.

OPINION

COPPLE, District Judge.

Plaintiff in this case seeks declaratory judgment that interest on the receivership assets of Gibraltar Savings and Loan Association belongs primarily to it and not to defendant. Plaintiff owns substantially all of the guaranty capital of Gibraltar, and defendant is both the receiver and subrogee of withdrawable capital (savings) accounts of Gibraltar.

Defendant has moved to dismiss on several grounds. The Court is...

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