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FDIC v. BRITISH-AMERICAN CORP.

No. 89-303-CIV-5-BR.

755 F.Supp. 1314 (1991)

FEDERAL DEPOSIT INSURANCE CORPORATION, Receiver of Western National Bank of Lovell, Wyoming, and Gerald L. Bass, Receiver pendente lite of Fort Lincoln Life Insurance Company and Fort Lincoln Assurance Company, Plaintiffs, v. BRITISH-AMERICAN CORPORATION, (a North Carolina corporation, the surviving corporation of the merger of British-American International Corporation a Florida corporation, and British-American Corporation, a North Carolina corporation) and British American Insurance Company, Ltd. (a corporation of the Commonwealth of the Bahamas), Defendants.

United States District Court, E.D. North Carolina, Raleigh Division.

January 28, 1991.

Attorney(s) appearing for the Case

Womble, Carlyle, Sandridge & Rice, G. Eugene Boyce, Laura V. Leak, Donald L. Smith, E. Whitney Drake and Gerald L. Bass, Bass, Powell & Bryant, Raleigh, N.C., for plaintiffs.

Maupin, Taylor, Ellis & Adams, John T. Williamson, Sharon L. Hartman, Raleigh, N.C., for defendants.

MEMORANDUM OPINION

BRITT, District Judge.

This matter is before the court on plaintiffs' motions for summary judgment and on defendants' motion for partial summary judgment. The motions were thoroughly briefed and were supported and opposed by reams of documents, affidavits, deposition transcripts, and responses to discovery requests. Additionally, the court heard argument of counsel on 2 January 1991. This matter is now ripe for resolution.

I....

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