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FDIC v. AETNA CAS. & SUR. CO.

No. 90-5838.

947 F.2d 196 (1991)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff-Appellee, v. The AETNA CASUALTY & SURETY COMPANY, Defendant-Appellant, v. Jacob F. BUTCHER; Jesse A. Barr; and Lionel B. Wilde, Third-Party Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided October 10, 1991.

As Amended January 24, 1992.

Attorney(s) appearing for the Case

James R. Buckner, Marcia J. Meredith, Raymond R. Murphy, Jr., Miller & Martin, Douglas T. Johnson, Chattanooga, Tenn., John P. Parker (briefed), Richard J. Osterman, Jr., Federal Deposit Ins. Corp., Robert D. McGillicuddy (argued), FDIC, Washington, D.C., for FDIC.

Samuel L. Akers, William B. Luther, Shane Usary, Luther, Anderson, Cleary, Ruth & Speed, Chattanooga, Tenn., Larry L. Simms (argued and briefed), Michael B. Rappaport, Gibson, Dunn & Crutcher, Washington, D.C., for Aetna Cas. & Sur. Co.

Jacob F. Butcher, pro se.

Jesse A. Barr, pro se.

James S. Tipton, Jr., Gentry, Tipton, Kizer & Little, Knoxville, Tenn., for Lionel B. Wilde.

Before GUY and NELSON, Circuit Judges, and CELEBREZZE, Senior Circuit Judge.

RALPH B. GUY, Jr., Circuit Judge.

Defendant Aetna Casualty & Surety Company (Aetna) appeals from a jury verdict awarding $5,950,000 to the Federal Deposit Insurance Corporation (FDIC). Aetna had refused to make payment on a bankers blanket bond issued to the failed United American Bank (UAB) in Knoxville, Tennessee. The FDIC was the receiver for UAB and claimed entitlement to coverage and payment under the bond.

On appeal, Aetna argues that (1) the district...

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