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COLONIAL PENN GROUP, INC. v. COLONIAL DEPOSIT CO.

No. 87-1254.

834 F.2d 229 (1987)

COLONIAL PENN GROUP, INC., and Bay Loan and Investment Bank, Plaintiffs, Appellants, v. COLONIAL DEPOSIT COMPANY, Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided December 2, 1987.

Attorney(s) appearing for the Case

William R. Grimm with whom Gerald J. Petros and Hinckley, Allen, Tobin & Silverstein, Providence, R.I., were on brief, for plaintiffs, appellants.

John E. Bulman with whom James E. Purcell and Tillinghast, Collins & Graham, Providence, R.I., were on brief for defendant, appellee.

Before COFFIN, ALDRICH and TORRUELLA, Circuit Judges.

COFFIN, Circuit Judge.

Colonial Penn Group, Inc. and Bay Loan and Investment Bank appeal from a judgment of the United States District Court for the District of Rhode Island. The district court dismissed their complaint on the grounds that it lacked jurisdiction to entertain the action, and in the alternative, that abstention was appropriate in the event that jurisdiction was proper, 654 F.Supp. 1247. We agree that the district...

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