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SANTONI v. FEDERAL DEPOSIT INS. CORP.

No. 81-1475.

677 F.2d 174 (1982)

Juan SANTONI, Jr., et al., Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Appellee.

United States Court of Appeals, First Circuit.

Decided May 10, 1982.

Attorney(s) appearing for the Case

Richard A. Lee, San Juan, P. R., with whom Marisa Brugueras, San Juan, P. R., was on brief, for appellants.

Wayne D. Baller, Senior Atty., Washington, D. C., with whom Thomas A. Brooks, Gen. Counsel, E. Whitney Drake, Senior Atty., Washington, D. C., Roberto Boneta, and Francis, Doval, Munoz, Acevedo, Otero & Trias, Hato Rey, P. R., were on brief, for appellee.

Before GIBSON, Senior Circuit Judge, BOWNES and BREYER, Circuit Judges.

BOWNES, Circuit Judge.

Appellants are unsuccessful bidders for an asset (a hotel) acquired by appellee, Federal Deposit Insurance Corporation (FDIC), from a failed bank. They appeal the district court's order of summary judgment in favor of the FDIC. 508 F.Supp. 1012. The principal issue is whether the district court properly concluded that appellants' action did not involve a claim based either on an express contract or promissory...

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