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COLORADO STATE BANK OF WALSH v. FDIC

Civ. A. No. 87-M-207.

671 F.Supp. 706 (1987)

COLORADO STATE BANK OF WALSH, Plaintiff, v. FEDERAL DEPOSIT INSURANCE CORPORATION and United States of America, Defendants.

United States District Court, D. Colorado.

July 14, 1987.

Attorney(s) appearing for the Case

John Gelhausen, Lamar, Colo., for plaintiff.

Dina Biblin, Trial Atty., Torts Branch, U.S. Dept. of Justice, Jane Rossowski, Legal Div., Federal Deposit Ins. Corp., Washington, D.C., Nancy E. Rice, Asst. U.S. Atty., Denver, Colo., for defendants.

MEMORANDUM OPINION AND ORDER

MATSCH, District Judge.

The Plaintiff, Colorado State Bank of Walsh (Bank of Walsh), purchased a 100% "participation interest" in a $100,000 loan to John R. and Shirley M. Sharpe from First National Bank of Springfield (Bank of Springfield). The Federal Deposit Insurance Corporation (FDIC) assumed control of the Bank of Springfield before the first installment became due on the Sharpe loan. The FDIC as receiver sold the Sharpe...

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