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NATIONAL RURAL UTIL. CO-OP. FINANCE CORP. v. U.S.

No. 88-1283.

867 F.2d 1393 (1989)

NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION, Plaintiff-Appellant, v. The UNITED STATES, Defendant-Appellee.

United States Court of Appeals, Federal Circuit.

February 2, 1989.

Attorney(s) appearing for the Case

Richard C. Tufaro, Milbank, Tweed, Hadley & McCloy, New York City, argued for plaintiff-appellant.

Timothy F. Brown, Commercial Litigation Branch, Dept. of Justice, of Washington, D.C., argued, for defendant-appellee. With him on the brief were John R. Bolton, Asst. Atty. Gen., J. Christopher Kohn, Director and James G. Bruen, Jr., Sp. Litigation Counsel, Washington, D.C.

Before FRIEDMAN, NIES and ARCHER, Circuit Judges.

FRIEDMAN, Circuit Judge.

The principal question in this case, here on appeal from the United States Claims Court, is whether the Rural Electrification Administration (REA) breached a contractual obligation to the appellant, National Rural Utilities Cooperative Finance Corporation (the Cooperative), contained in an agreement between REA and the Wabash Valley Power Association, Inc. (Wabash), whereby a prior mortgage that Wabash had given REA would be modified to secure...

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