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TRUSTEES OF HOSPITAL MORTGAGE GROUP v. COMPANIA ASEGURADORA INTER-AMERICANA S. A. PANAMA

No. 81-1599.

672 F.2d 250 (1982)

The TRUSTEES OF HOSPITAL MORTGAGE GROUP, Plaintiff, Appellee, v. COMPANIA ASEGURADORA INTER-AMERICANA S. A. PANAMA, Defendant, Appellant, v. PARQUE INDUSTRIAL RIO CANAS, INC., Third-Party Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided March 19, 1982.

Attorney(s) appearing for the Case

Joseph Chalverus, San Juan, P. R., with whom Victor R. Sotomayer-Clavell, Santruce, P. R., was on brief, for appellant.

Michael Del Valle-Montalvo, Hato Rey, P. R., with whom Abelardo Ruiz-Suria, and McConnell, Valdes, Kelley, Sifre, Griggs & Ruiz-Suria, San Juan, P. R., were on brief, for appellee The Trustees of Hospital Mortgage Group.

Before COFFIN, Chief Judge, GIBSON, Senior Circuit Judge, and BOWNES, Circuit Judge.

PER CURIAM.

The plaintiff-appellee (Trustees) brought this action to foreclose on a mortgage on certain plots of land in the Rio Cana Industrial Park, south of San Juan. On May 28, 1981, the district court issued an order requiring the defendant-appellant (Compania) either (1) to post a bond of $67,167.09 with the court, securing its mortgage liability, or (2) to satisfy its property tax liability on the mortgaged realty and repay the plaintiff for taxes advanced...

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