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AMERICAN CAS. CO. OF READING, PA. v. FEDERAL S&L

No. LR-C-88-597.

704 F.Supp. 898 (1989)

AMERICAN CASUALTY COMPANY OF READING, PENNSYLVANIA, Plaintiff, v. The FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, as Receiver for FirstSouth, F.A.; Thomas R. Kennedy; Roger E. Yanow; Howard J. Weichern, Jr.; Del L. Brannon; James B. Hatcher; G. Tim Massanelli; Gerald E. Powell; Henry F. Trotter, Jr.; William S. Watson; Wilbur C. West; Douglas H. Lowrey; B.W. Chaffin; Joel W. Cheatham; Gene D. Davis; John H. Kelly; Michael P. Murphy; H. Kenneth Reed; Roderick D. Reed; and Ned P. Euseppi, Defendants.

United States District Court, E.D. Arkansas, W.D.

January 3, 1989.

Attorney(s) appearing for the Case

James B. Davidson, Lise K. Jacobson, Omer G. Poirier, Peterson, Ross, Schloerb & Seidel, Chicago, Ill., and Stephen W. Jones, Donald T. Jack, Jack, Lyon & Jones, P.A., Little Rock, Ark., for plaintiff.

Williams & Anderson, Phil S. Williams, Little Rock, Ark.

Russell E. Marsh, F. Thomas Hecht, Hopkins & Sutter, Chicago, Ill., Wes Cherry, Peter B. Heister, Eichenbaum Law Firm, H. William Allen, Little Rock, Ark., John K. Villa, Williams & Connolly, Washington, D.C., Joel Taylor, Little Rock, Ark., Terry F. Wynne, Bridges Law Firm, Pine Bluff, Ark., Thomas B. Staley, Robinson, Staley & Marshall, John R. Clayton, Wallace, Dover & Dixon, Mike Mitchell, Mitchell & Roachell, Little Rock, Ark., Bradley D. Jesson, Hardin, Jesson & Dawson, Ft. Smith, Ark., Larry Burks, Friday, Eldredge & Clark, and H. Lawrence Yancey, Yancey & Nichols, Little Rock, Ark., for defendants.

MEMORANDUM AND ORDER

HENRY WOODS, District Judge.

Pending now are the cross-motions for summary judgment of the plaintiff, American Casualty Company of Reading, Pennsylvania (American), and the defendants, the Federal Savings and Loan Insurance Corporation, as Receiver for FirstSouth, F.A. (FSLIC), and several former officers and directors of FirstSouth. American brought this action seeking a judgment declaring that it is not liable to the former officers...

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