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FEDERAL DEPOSIT INS. CORP. v. CALEDONIA INV. CORP.

No. 87-2108.

862 F.2d 378 (1988)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, Appellee, v. CALEDONIA INVESTMENT CORPORATION, Defendant, Appellant.

United States Court of Appeals, First Circuit.

Decided November 23, 1988.

Attorney(s) appearing for the Case

Gabriel I. Penagaricano, San Juan, P.R., for defendant, appellant.

Alberto De Diego, Hato Rey, P.R., with whom John David Ferrer, Santurce, P.R., Rae Schupack, Raul E. Gonzalez Diaz, and Gonzalez, Bennazar & Colorado, Hato Rey, P.R., were on brief, for plaintiff, appellee.

Before COFFIN, Circuit Judge, TIMBERS, Senior Circuit Judge, and TORRUELLA, Circuit Judge.

TIMBERS, Circuit Judge:

In this foreclosure action appellee Federal Deposit Insurance Corporation ("FDIC"), as successor in interest to Banco de Ahorro, F.S.B. ("lender"), seeks to recover on a note and mortgage issued by the lender to appellant Caledonia Investment Corporation ("appellant"). The United States District Court for the District of Puerto Rico, Hector M. Laffitte, District Judge, denied summary judgment for appellant but later granted partial summary...

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