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OLNEY SAV. & LOAN ASS'N v. TRINITY BANC SAV. ASS'N

No. 88-1842.

885 F.2d 266 (1989)

OLNEY SAVINGS & LOAN ASSOCIATION, Plaintiff-Appellee Cross-Appellant, v. TRINITY BANC SAVINGS ASSOCIATION, etc., et al., Defendants, Bright Banc Savings Association f/k/a Trinity Savings & Loan Association, Trinity Banc Savings Association, and Bright Mortgage Co., f/k/a STM Mortgage Company, Defendants-Appellants Cross-Appellees.

United States Court of Appeals, Fifth Circuit.

October 10, 1989.

Attorney(s) appearing for the Case

F. Franklin Honea, Payne & Vendig, Dallas, Tex., for defendants-appellants cross-appellees.

Robert J. Clary, Johnson, Bromberg & Leeds, Dallas, Tex., for intervenor FSLIC.

William Reid, E. Eldridge Goins, Jr., Dallas, Tex., additional counsel on plea in intervention.

Before GARZA, REAVLEY and POLITZ, Circuit Judges.

GARZA, Circuit Judge:

Olney Savings & Loan Association ("Olney") obtained a judgment for rescission of a loan participation, plus actual and punitive damages, against Bright Banc Savings Association, formerly Trinity Savings & Loan Association and Trinity Banc Savings Association ("Trinity"), and Bright Mortgage Company, formerly STM Mortgage Company ("STM"). Trinity is now under conservatorship of the Federal Savings and Loan Insurance Corporation ("FSLIC...

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