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FEDERAL DEPOSIT INS. CORP. v. BARRASSO

No. 85-3613.

791 F.2d 1529 (1986)

FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity, Plaintiff/Appellant, v. Anthony C. BARRASSO, et al., Defendants/Appellees.

United States Court of Appeals, Eleventh Circuit.

June 25, 1986.

Attorney(s) appearing for the Case

Robert M. Quinn, Tampa, Fla., Myers N. Fisher, Federal Deposit Ins. Corp., Washington, D.C., for plaintiff-appellant.

R. Thomas Farrar, Miami, Fla., for Barrasso.

Stephen B. Rakusin, Gainesville, Fla., for Lenhardt & East Bay Inv. Fund, Ltd. & East Bay Country Club.

Before GODBOLD, Chief Judge, TJOFLAT, Circuit Judge, and TUTTLE, Senior Circuit Judge.

Corrected.

GODBOLD, Chief Judge:

Federal Deposit Insurance Corporation's (FDIC's) predecessor in interest, Metropolitan Bank and Trust Company,1 initiated this suit to foreclose on four properties owned by Peter and Helen Lenhardt. It alleged that it had valid mortgages to these properties and that the loan that the properties secured was in default. The Lenhardts acknowledged the validity of FDIC's mortgages as to all but one...

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