1. Home
  2. Browse Decisions
  3. F.Supp.
  4. 761 F.Supp.
  5. 761 F.Supp. 31 (1991)
 

FEDERAL DEPOSIT INS. CORP. v. STUART

No. 89-2222.

761 F.Supp. 31 (1991)

FEDERAL DEPOSIT INSURANCE CORPORATION, In Its Corporate Capacity as Liquidator of American Bank and Trust Company, of Lafayette, Louisiana, a Corporation Created and Existing Under and By Virtue of an Act of Congress and Having its Principal Place of Business in Washington, District of Columbia, v. Walter B. STUART III, American Casualty Company of Reading, Pa., Thomas A. Billeaud, Richard E. Orgeron, Robert E. Tujaque, J.J. Burdin, Bob E. Wright, Robert E. Billeaud, F.K. Dowty, U.J. Gajan, W.W. Hawkins, W.D. Huff, Jr., William H. Mouton, Leopold Weill, Jr., U.B. Landry, Cecil D. Trahan, and Cletus B. Cribbs.

United States District Court, W.D. Louisiana, Lafayette-Opelousas Division.

April 9, 1991.

Attorney(s) appearing for the Case

Bruce J. Pederson, FDIC, Washington, DC., Joseph B. Olinde, Jr., David S. Rubin, Kantrow, Spaht, Weaver & Blitzer, Baton Rouge, La., for FDIC.

Ross, Dixon & Masback, Eleni M. Constantine, Washington, D.C., Emmett C. Sole, William B. Monk, Stockwell, Sievert, Viccellio, Clements & Shaddock, Lake Charles, La., for American Cas. Co. of Reading, Pa.

Scofield, Gerald, Veron, Hoskins & Soileau, John B. Scofield, Trial Atty., Lake Charles, La., for Leopold Weill, Jr.

D. Mark Bienvenu, Voorhies & Labbe, Lafayette, La., for F.K. Dowty, Richard E. Orgeron and Bob E. Wright.

Davidson, Meaux, Sonnier, McElligott & Swift, James J. Davidson, III, Lafayette, La., for Walter B. Stuart III, Robert E. Tujaque, J.J. Burdin, Robert E. Billeaud, Wm. H. Mouton, Cletus B. Cribbs and W.D. Huff, Jr. and Cecil D. Trahan.

RULING

LITTLE, District Judge.

This lawsuit arose from the ashes of American Bank, one of the many financial institutions that failed during the past few years. The Louisiana Commissioner of Financial Institutions closed American on 26 September 1986 and appointed plaintiff Federal Deposit Insurance Corporation (FDIC) as its receiver and liquidator. The FDIC subsequently sued the directors of the bank, alleging that they had breached their fiduciary responsibilities...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases