Federal Deposit Insurance Corporation v. Citizens Bank & Trust Company of Park Ridge, Illinois

U.S. Court of Appeals, Seventh Circuit · Decided 1979-02-02

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From the opinion

TONE, Circuit Judge. Federal Deposit Insurance Corporation, after becoming the receiver of an-insolvent state bank, entered into a so-called purchase and assumption transaction under 12 U.S.C. § 1823 (e) whereby it, as receiver, assigned to itself in its corporate capacity the insolvent bank’s cl…

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