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FEDERAL DEPOSIT INS. CORP. v. P.L.M. INTERN., INC.

No. 87-1435.

834 F.2d 248 (1987)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, Appellee, v. P.L.M. INTERNATIONAL, INC., et al., Defendants, Appellees. Antonio Melendez and Martha Melendez, Defendants, Appellants.

United States Court of Appeals, First Circuit.

Decided December 7, 1987.

Attorney(s) appearing for the Case

Rurico S. Diaz-Aponte with whom Hector L. Marquez, Hector R. Ramos and Oreste V. Ramos were on brief for defendants, appellants.

Gabriel Hernandez Rivera with whom Feldstein, Gelpi, Hernandez & Gotay, Thomas A. Rose, Deputy Gen. Counsel, Rae Schupack, Regional Counsel, and John David Ferrer, Counsel, were on brief for plaintiff, appellee.

Before BOWNES and SELYA, Circuit Judges, and CAFFREY, Senior District Judge.

BOWNES, Circuit Judge.

Defendants-appellants Antonio and Martha Melendez and their conjugal partnership appeal an order of the United States District Court for the District of Puerto Rico entered in accordance with a stipulation for judgment holding them liable as guarantors of a mortgage loan obtained by Vistas de Camuy Development Corporation, Inc. (Vistas) from the Girod Trust Company (Girod). Defendants argue that the substitution of the debtor in the principal...

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