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FEDERAL DEPOSIT INS. CORP. v. FRANCISCO INV. CORP.

Nos. 86-1717, 87-1029.

873 F.2d 474 (1989)

FEDERAL DEPOSIT INSURANCE CORPORATION, etc., Plaintiff, Appellee, v. FRANCISCO INVESTMENT CORPORATION, et al., Defendants, Appellees. Appeal of Frederick J. GONZALEZ, et al., Defendants. FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, Appellee, v. FRANCISCO INVESTMENT CORPORATION, et al., Defendants, Appellants.

United States Court of Appeals, First Circuit.

Decided May 1, 1989.

Attorney(s) appearing for the Case

Fernando Gallardo, San Juan, P.R., for defendants, appellants Francisco Inv. Corp., et al.

Gabriel I. Penagaricano, San Juan, P.R., for defendants, appellants Frederick J. Gonzalez and Gloria Gonzalez.

John David Ferrer, Santurce, P.R., with whom Michael B. Burgee, Deputy Gen. Counsel, Washington, D.C., Rae Schupack, Regional Counsel, New York City, Enrique G. Banuchi, Laguna-Niguel, Cal., Gonzalez, Bennazar & Colorado and Jaime Brugueras, Hato Rey, P.R., were on brief, for plaintiff, appellee.

Before COFFIN, ALDRICH and TORRUELLA, Circuit Judges.

TORRUELLA, Circuit Judge.

These cases, related only coincidentally on the facts, come to us on appeal in very different postures. The first case hinges on whether the suit was barred by the applicable statute of limitations and whether the district court was clearly erroneous in determining that the debt had not been paid. The second requires us to determine whether the district court abused its discretion in refusing to set aside a default judgment. We address each...

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