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RESOLUTION TRUST CORP. v. VESTAL

No. 1:92-CV-0096.

838 F.Supp. 305 (1993)

RESOLUTION TRUST CORPORATION, In Its Corporate Capacity and as Assignee of the Receiver of Deep East Texas Savings Association, Plaintiff, v. Hubert VESTAL, Elray King, William E. Haynie, Richard Gill Tubb and R.Q. Perkins, Defendants.

United States District Court, E.D. Texas, Beaumont Division.

July 23, 1993.

Attorney(s) appearing for the Case

Timothy J. Hogan, Bell & Murphy, Houston, TX, for plaintiff.

John J. Durkay, John Cash Smith, Mehaffy & Weber, J. Hoke Peacock II, Howard L. Close, Orgain, Bell & Tucker, Beaumont, TX, J. Craig Cowgill, J. Craig Cowgill & Associates, Houston, TX, Harry W. Stafford, Wheat Stafford & Allison, Woodville, TX, for defendants.

ORDER

COBB, District Judge.

I. BACKGROUND

The Resolution Trust Corporation ("RTC"), as receiver for Deep East Texas Savings Association ("DETSA"), sues DETSA's former directors and shareholders for allegedly making certain bad loans to insiders, improperly diverting loan proceeds, and engaging in reckless loan and investment transactions. The RTC is asserting causes of action for breach of fiduciary duty, fraud, negligence, gross negligence...

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