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F.D.I.C. v. HUGHES DEVELOPMENT CO., INC.

Civ. No. 4-87-223.

684 F.Supp. 616 (1988)

FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity, Plaintiff, v. HUGHES DEVELOPMENT COMPANY, INC., Francis R. Hughes, and Bernadette J. Hughes, Defendants.

United States District Court, D. Minnesota, Fourth Division.

April 12, 1988.

Attorney(s) appearing for the Case

Karen Park Gallivan, Rider, Bennett, Egan & Arundel, Minneapolis, Minn., for plaintiff.

Ann K. Newhall, Dale M. Wagner, Moss & Barnett, Minneapolis, Minn., for defendants.

ORDER

DOTY, District Judge.

This case comes before the Court on a motion for summary judgment by plaintiff Federal Deposit Insurance Corporation ("FDIC") and a cross motion for partial summary judgment by the defendants Hughes Development Company, Inc. ("HDCI"), Francis R. Hughes ("Mr. Hughes"), and Bernadette J. Hughes ("Mrs. Hughes").

FACTUAL BACKGROUND

In 1982, Mr. Hughes and Guaranty State Bank of St. Paul ("Bank") executed a Combination...

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