FDIC v. MUNICIPALITY OF PONCE

Civ. No. 87-1071 (JP).

708 F.Supp. 464 (1989)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, v. MUNICIPALITY OF PONCE, represented by its Mayor, Hon. Jose S. Dapena Thompson, and Paulo Da Cuhna, Defendants.

United States District Court, D. Puerto Rico.

February 28, 1989.


Attorney(s) appearing for the Case

Enrique Banuchi, González, Bennazar & Colorado, Hato Rey, P.R., for plaintiff.

Guillermo de Guzmán Vendrell, San Juan, P.R., Richard A. Lee, Hato Rey, P.R., for defendants.


OPINION AND ORDER

PIERAS, District Judge.

This is an action brought by the Federal Deposit Insurance Corporation (FDIC), in its corporate capacity, as successor of the Girod Trust Company (Girod), to collect on a loan guarantee executed by defendant Municipality of Ponce. The Municipality has moved for summary judgment on the grounds that the guarantee was made without legal authority and is void.

I...

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