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FIRST PENNSYLVANIA MORT. TRUST v. DORCHESTER SAV. BANK

395 Mass. 614 (1985)

481 N.E.2d 1132

FIRST PENNSYLVANIA MORTGAGE TRUST & others vs. DORCHESTER SAVINGS BANK & others (and a companion case).

Supreme Judicial Court of Massachusetts, Suffolk.

August 8, 1985.

Attorney(s) appearing for the Case

Thomas D. Burns (Gael Mahony, for Hallwood Group, Inc., intervener, & Alan K. Posner with him) for the plaintiffs.

Jerome P. Facher (John G. Fabiano & Michelle D. Miller with him) for the defendants.

Present: HENNESSEY, C.J., LIACOS, ABRAMS, NOLAN, & LYNCH, JJ.

ABRAMS, J.

This action arises out of a participation agreement executed among colenders in February, 1972, to share in financing the construction of a rental apartment project in Weymouth. A judge of the Superior Court held the plaintiff First Pennsylvania Mortgage Trust (FPMT) liable to the defendants Dorchester Savings Bank (DSB) and National Bank of North America (NBNA) in the amount of $1,116,446 "and interest thereon from when [FPMT] reneged on the deal, i.e...

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