Sol Neil CORBIN, as Trustee in Bankruptcy of Franklin New York Corporation, Plaintiff-Appellant, and
Connecticut General Life Insurance Company, Berkshire Life Insurance Company, Connecticut Mutual Life Insurance Company, the Minnesota Mutual Life Insurance Company, Morgan Guaranty Trust Co., as Trustee, New England Mutual Life Insurance Company, Occidental Life Insurance Company of California, the Penn Mutual Life Insurance Company, San Francisco City and County Employees' Retirement System, Shell Pension Trust, Southland Life Insurance Company, State of Wisconsin Investment Board, United California Bank, as Trustee, United States Trust Company of New York, as Trustee, and Western Life Insurance Company, Plaintiff-Intervenors-Appellants,
v.
FEDERAL RESERVE BANK OF NEW YORK and Federal Deposit Insurance Corporation, in its Corporate Capacity and as Receiver of Franklin National Bank, Defendants-Appellees.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued May 19, 1980.
Decided July 25, 1980.
Attorney(s) appearing for the Case
Robert L. King, New York City (Debevoise, Plimpton, Lyons & Gates, Sally D. Turner, New York City, of counsel), for appellants Connecticut Gen. Life Ins. Co., et al.
William E. Hegarty, New York City (Cahill, Gordon & Reindel, Allen S. Joslyn, Michael P. Tierney, Patricia A. Pickrel, New York City, of counsel), for defendant-appellee Federal Reserve Bank of New York.
William E. Kelly, New York City (Casey, Lane & Mittendorf, Alan R. Wentzel, Christopher R. Belmonte, New York City, of counsel), for defendant-appellee Federal Deposit Ins. Corp.
David Simon, New York City (Barrett Smith Schapiro Simon & Armstrong, Michael O. Finkelstein, Joel M. Gross, Eric J. Anderson, New York City, of counsel), for plaintiff-appellant Corbin.
Before OAKES and MESKILL, Circuit Judges, and BONSAL, District Judge.
United States Court of Appeals, Second Circuit.
OAKES, Circuit Judge:
This is an appeal by certain unsecured creditors of Franklin National Bank (FNB) from a judgment of the United States District Court for the Southern District of New York, Milton Pollack, Judge, with opinion reported at 475 F.Supp. 1060 (S.D. N.Y.1979). Among these appellants is the trustee in bankruptcy of Franklin New York Corporation (FNYC). As the holding company of FNB — a bank whose 1974 insolvency...
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