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FED. DEP. INS. CORP. v. LA RAMBLA SHOPPING CENTER

Nos. 85-1334, 85-1785 and 85-1836.

791 F.2d 215 (1986)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, Appellee, v. LA RAMBLA SHOPPING CENTER, INC., et al., Defendants, Appellants.

United States Court of Appeals, First Circuit.

Submitted February 6, 1986.

Decided May 21, 1986.

Attorney(s) appearing for the Case

Jose Gandara with whom Ramon E. Bauza Higuera and Bauza & Davila were on brief for defendant, appellant La Rambla Shopping Center, Inc.

John David Ferrer with whom Victoria D. Pierce, Michael B. Burgee, Deputy Gen. Counsel, Federal Deposit Ins. Corp., and Rae Schupack, Regional Counsel, Federal Deposit Ins. Corp., were on brief for plaintiff, appellee.

Before CAMPBELL, Chief Judge, BREYER and TORRUELLA, Circuit Judges.

Submitted in No. 85-1836 February 6, 1986.

BREYER, Circuit Judge.

The Federal Deposit Insurance Corporation (FDIC) sued La Rambla Shopping Center, Inc. in federal district court to recover money that La Rambla owed a failed bank, namely Banco Credito y Ahorro Ponceno. The FDIC sued on the basis of a note executed by La Rambla in 1970; the note was one of Banco Credito's assets that the FDIC purchased in 1978. La Rambla filed a counterclaim, based on a shopping...

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