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MORGAN v. HEIGHTS SAV. ASS'N

Civ. A. No. B-88-00960-CA.

741 F.Supp. 620 (1990)

Glen W. MORGAN v. HEIGHTS SAVINGS ASSOCIATION, William R. Parkey, Robert Harry, Paul Pryor, Roger Keane, Larry Miller, Cliff Fry, Don Williams.

United States District Court, E.D. Texas, Beaumont Division.

June 11, 1990.

Attorney(s) appearing for the Case

Wayne A. Reaud, Reaud, Morgan & Quinn, Beaumont, Tex., for plaintiff.

J. Hoke Peacock, II, Orgain, Bell & Tucker, Beaumont, Tex., Alan F. Levin, Constance K. Acosta, Levin, Roth & Kasner, Houston, Tex., for Heights Sav.

David C. Holmes, H. Miles Cohn, Honigman, Miller, Schwartz & Cohn, Houston, Tex., for First Heights, FSA.

E. John Gorman, Tracey M. Smith, Hutcheson & Grundy, Houston, Tex., for FSLIC, Receiver.

MEMORANDUM OPINION

COBB, District Judge.

This case is one of many in Texas involving the rights and liabilities of lenders and borrowers when a federally insured savings and loan fails. Specifically at issue before this court is the right of a borrower to pursue a cause of action against the new entity replacing the old insolvent savings and loan which he had asserted against the insolvent savings and loan, and the right of a newly created entity to enforce...

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