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ASTRUP v. MIDWEST FEDERAL SAV. BANK

Nos. 88-5222, 88-5223 ND.

886 F.2d 1057 (1989)

Odell ASTRUP, d/b/a Ace Investment Company, and individually, Appellant/Cross-Appellee, v. MIDWEST FEDERAL SAVINGS BANK and Federal Savings Bank successors in interest to First Federal Savings and Loan Association of Grand Forks, and Golden Pine Service Corporation, Inc., a wholly owned subsidiary of First Federal Savings and Loan Association of Grand Forks; respectively, Appellees/Cross-Appellants.

United States Court of Appeals, Eighth Circuit.

Decided October 5, 1989.

Rehearing and Rehearing Denied November 24, 1989.

Attorney(s) appearing for the Case

Robert Vogel, Grand Forks, N.D., for appellant/cross-appellee.

Wayne G. Popham, Minneapolis, Minn., for appellees/cross-appellants.

Before McMILLIAN and BOWMAN, Circuit Judges, and DUMBAULD Senior District Judge.

Rehearing and Rehearing En Banc Denied November 24, 1989.

DUMBAULD, Senior District Judge.

Hoping to profit from the need for housing following establishment of a coal gasification plant at Beulah, N.D., appellant Astrup entered on a joint venture for building a 36 unit condominium with Golden Pine Service Corporation (hereinafter Golden Pine) a wholly owned subsidiary of First Federal Savings and Loan Association (hereinafter First Federal). Because of the...

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