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NORTHWEST RACQUET SWIM & HEALTH CLUBS, INC. v. RESOLUTION TRUST CORP.

Nos. 89-5526 and 89-5585.

927 F.2d 355 (1991)

NORTHWEST RACQUET SWIM & HEALTH CLUBS, INC., a Minnesota corporation, Appellant, v. RESOLUTION TRUST CORPORATION, as receiver for Midwest Federal Savings and Loan Association and Midwest Savings Association, F.A., Appellees.

United States Court of Appeals, Eighth Circuit.

Decided February 28, 1991.

Attorney(s) appearing for the Case

Kay Nord Hunt of Minneapolis, for appellant.

John Paul Martin, Minneapolis, for appellees.

Before McMILLIAN, Circuit Judge, BRIGHT, Senior Circuit Judge, and BOWMAN, Circuit Judge.

BRIGHT, Senior Circuit Judge.

Northwest Racquet Swim & Health Clubs, Inc. (Northwest) appeals the district court's1 grant of summary judgment2 in favor of the Resolution Trust Corporation (RTC) in this action for rescission of subordinated debt securities purchased from now insolvent Midwest Federal Savings and Loan Association (MWF). On appeal, Northwest contends that MWF's insolvency does not affect its...

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