Federal Deposit Insurance Corporation v. United States National Bank

685 F.2d 270 FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver of Franklin National Bank, Appellant, v. UNITED STATES NATIONAL BANK, a National Banking Association; Federal Deposit Insurance Corporation, as Receiver of United States National Bank, et al., Appellees. No. 80-6043. United States Court of Appeals, Ninth Circuit. Argued and Submitted Feb. 1, 1982. Decided Aug. 23, 1982. Jeffery M. Epstein, New York City, for appellant. Charles A. Legge, Bronson, Bronson & McKinnon, San Francisco, Cal., for appellees. Appeal from the United States District Court for the Southern District of California. Before SKOPIL and SCHROEDER, Circuit Judges, and KING, * District Judge. SCHROEDER, Circuit Judge: 1 This case is yet another eddy in the whirlpool of litigation that followed the 1973 collapse of the United States National Bank in San Diego, California. 1 In this litigation the Federal Deposit Insurance Corporation ("FDIC"), in its capacity as receiver of another failed bank, Franklin National Bank, is suing itself, in its capacity as receiver of U.S. National Bank, to recover $5,000,000 which the U.S. National Bank allegedly borrowed by means of fraudulent representations. The…