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MONTREAL SECURITIES, INC. v. UNITED STATES

No. 241-62.

329 F.2d 956 (1964)

MONTREAL SECURITIES, INC. v. The UNITED STATES.

United States Court of Claims.

March 13, 1964.

Attorney(s) appearing for the Case

Carl L. Shipley, Washington, D. C., for plaintiff. Shipley, Akerman & Pickett, Washington, D. C., of counsel.

William L. Davis, Washington, D. C., with whom was Asst. Atty. Gen., John W. Douglas, for defendant.

Before JONES, Chief Judge, and WHITAKER, LARAMORE, DURFEE and DAVIS, Judges.

DAVIS, Judge.

This is another in the long series of suits by dissatisfied purchasers of surplus Government property. Montreal Securities, Inc., was the successful bidder in a sale by the Federal Housing Administration (FHA) of two rental housing projects. After the closing, many of the tenants moved out of the buildings and it appeared that plaintiff had made a poor bargain. It seeks a restoration of the money it paid for the purchase.

The FHA had insured...

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