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FEDERAL SAV. & LOAN INS. v. HOMES INTERN. DEV.

Nos. 87-8912-CIV, 87-8913-CIV.

721 F.Supp. 290 (1989)

The FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, as Receiver for Vernon Savings and Loan Association, Plaintiff, v. HOMES INTERNATIONAL DEVELOPMENT CORPORATION, et al., Defendants. TWIN CONSTRUCTION, INC., Plaintiff, v. BOCA RATON, INC., et al., Defendants.

United States District Court, S.D. Florida.

September 7, 1989.

Attorney(s) appearing for the Case

Kyle Silverman, West Palm Beach, Fla., for Twin.

Gary Woodfield, Palm Beach, Fla., for FSLIC.

MEMORANDUM DECISION

SCOTT, District Judge.

These consolidated cases were filed in the wake of yet another failed savings and loan institution. In the first action, the Federal Savings and Loan Insurance Corporation ("FSLIC"), as receiver for Vernon Savings and Loan Association ("Vernon"), seeks to foreclose a mortgage securing a promissory note for $8.9 million. In the second action, Twin Construction, Inc. ("Twin") seeks to foreclose a mechanics lien for...

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