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FEDERAL SAV. AND LOAN INS. CORP. v. BURDETTE

Civ. A. No. 3-87-809.

718 F.Supp. 649 (1989)

The FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, as Receiver for Knox Federal Savings & Loan Association, Plaintiff, v. J. Garrett BURDETTE, Clayton Christenberry, Jr., Alex Curtis, Estate of Howell C. Curtis, Steve Curtis, William H. Curtis, Michael M. Downing, Estate of John J. Duncan, John J. Duncan, Jr., Joe S. Duncan, Ralph H. Newman, Jr., William Regas, C.A. Ridge, Richard G. Rutherford, Estate of Burton B. Simcox, and Estate of David M. Stair, Defendants. J. Garrett BURDETTE, et al., Third-Party Plaintiffs, v. AMERICAN CASUALTY COMPANY OF READING, PENNSYLVANIA, Third-Party Defendant.

United States District Court, E.D. Tennessee, N.D.

June 22, 1989.

Attorney(s) appearing for the Case

John L. Conlon, Hopkins & Sutter, Chicago, Ill., Thomas R. Dyer, Walt Dyer & James, Knoxville, Tenn., for plaintiff.

Archie R. Carpenter, Carpenter & O'Connor, Ronald C. Koksal, Butler Vines Babb & Threadgill, David L. Buuck, Claiborne Davis Buuck & Hurley, R. Franklin Norton, Norton & Luhn, P.C., Richard L. Hollow, McCampbell & Young, Johnathan H. Burnett, Hodges Doughty & Carson, Bernard E. Bernstein, Bernstein Susano & Stair, J. Michael Winchester, Lacy & Winchester, P.C., Charles A. Wagner, III, Wagner Myers & Sanger, P.C., Ralph E. Harwell, Harwell & Nichols, Steven Oberman, Daniel & Oberman, Lewis S. Howard, Jr., Howard & Ridge, Charles W.B. Fels, Ritchie Fels & Dillard, P.C., Knoxville, Tenn., Arnold Tackett, Chattanooga, Tenn., for defendants and third party plaintiff.

Sean M. Hanifin, Ross Dixon & Masback, Washington, D.C., D. Michael Swiney, Paine Swiney & Tarwater, Knoxville, Tenn., for third-party defendant.

MEMORANDUM OPINION AND ORDER

JOINER, District Judge, Sitting by Designation.

PART I

In this case the Federal Savings & Loan Insurance Corporation (FSLIC), as receiver for Knox Federal Savings & Loan Association (Knox), filed suit against former officers and directors of Knox. The FSLIC and the directors and officers brought third-party claims against American Casualty Company of Reading, Pennsylvania (ACC), claiming that an officers' and...

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