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F.D.I.C. v. KERR

No. C-C-85-0074-P.

650 F.Supp. 1356 (1986)

FEDERAL DEPOSIT INSURANCE CORPORATION, As Liquidating Agent for Republic Bank of Kansas City, Plaintiff, v. Preston KERR, Presco Industries, Inc., d/b/a Ellett Brothers, Ray Adams, Trustee for Ellett Brothers, Inc., Tuscarora Corporation, and Tuscarora Acquisition Company No. 6, Inc., Defendants, and Tuscarora Acquisition Company No. 7, Inc., Chilton Ellett, Allan C. Watkins, Trustee for the unsecured creditors of Ellett Brothers, Inc., Bancamerica Commercial Corporation, Eagle Oil & Development, Inc., and Leroy G. Bailey, Jr., and Robert D. Gorham, Jr., Additional Defendants.

United States District Court, W.D. North Carolina, Charlotte Division.

December 23, 1986.

Attorney(s) appearing for the Case

Gaston H. Gage, I. Faison Hicks, Parker, Poe, Thompson, Bernstein, Gage & Preston, Charlotte, N.C., Jeffrey S. Hacker, Area Sr. Atty., FDIC, Dallas, Tex., John S. Gordon, Harley Blosser, Gordon & Gordon, Kansas City, Mo., for plaintiff.

Ray Adams, Overland Park, Kan., Philip D. Lambeth, Harkey, Fletcher & Lambeth, C. Richard Rayburn, Jr., Jim Smith, Moore, Van Allen, Allen & Thigpen, Edgar Love, III, George C. Covington, Kennedy, Covington, Lobdell & Hickman, Charlotte, N.C., Sheila Janicke, David Schlee, Smith, Gill, Fisher & Butts, Kansas City, Mo., Harriet E. Styler, Salt Lake City, Utah, Michael Mahoney, Baker & Hostetler, Cleveland, Ohio, Rebecca L. Jackson, Baker & Hostetler, Washington, D.C., Stuart N. Bennett, Carl A. Eklund, Roath & Brega, Denver, Colo., for defendants.

ORDER

ROBERT D. POTTER, Chief Judge.

THIS MATTER is before the Court upon various Motions of the parties. The Court heard arguments of counsel on December 16, 1986 at Charlotte, North Carolina.

I. DEFENDANT ALLAN C. WATKINS' ("WATKINS") MOTION FOR SUMMARY JUDGMENT ON DERIVATIVE CLAIMS.

Watkins contends that there is no genuine issue of material fact or law that the Plaintiff Federal Deposit Insurance Corporation ("FDIC") does not and cannot...

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