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FDIC v. BRACERO & RIVERA, INC.

No. 89-1287.

895 F.2d 824 (1990)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff, Appellant, v. BRACERO & RIVERA, INC., Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided February 7, 1990.

Attorney(s) appearing for the Case

John David Ferrer, Burke, Va., with whom Rae Schupack Nathan, Regional Counsel, Gabriel Hernandez Rivera and Feldstein, Gelpi, Hernandez & Gotay, Old San Juan, P.R., were on brief for plaintiff, appellant.

David W. Roman, San Juan, P.R., with whom Jose E. Rivera Reyes, Hato Rey, P.R., was on brief for defendant, appellee.

Before CAMPBELL, Chief Judge, COFFIN, Senior Circuit Judge, and FUSTE, District Judge.

LEVIN H. CAMPBELL, Chief Judge.

The Federal Deposit Insurance Corporation, acting in its corporate capacity ("FDIC" or "FDIC-Corporate"), brought this action against Bracero & Rivera, Inc. ("Bracero") seeking to collect on a promissory note issued by Bracero and to foreclose on the mortgage securing the note. The district court entered judgment for Bracero. 694 F.Supp. 1027 (D.P.R.1988). FDIC appeals. The issue on appeal is...

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