USF & G, CO. v. PATRIOT'S POINT DEVELOPMENT AUTHORITY

Civ. A. Nos. 2:90-0196-8, 2:90-278-8 and 2:90-279-8.

772 F.Supp. 1565 (1991)

UNITED STATES FIDELITY & GUARANTY COMPANY, Plaintiff, v. PATRIOT'S POINT DEVELOPMENT AUTHORITY, et al., Defendants. Ethel WENRICH, et al., Plaintiffs, v. PATRIOT'S POINT DEVELOPMENT AUTHORITY, et al., Defendants. David B. HOLTZMAN, et al., Plaintiffs, v. PATRIOT'S POINT DEVELOPMENT AUTHORITY, et al., Defendants.

United States District Court, D.South Carolina, Charleston Division.

September 3, 1991.


Attorney(s) appearing for the Case

Stephen Peterson Groves, Sr., Thomas S. Tisdale, Jr., Young, Clement, Rivers & Tisdale, Charleston, S.C., Stephen J. Immelt, Thomas F. O'Neil, III, Baltimore, Md., for plaintiff in No. 2:90-0196-8.

George Hunter McMaster, Tompkins, McMaster and Thomas, John Condon Conway, Jr., Dennis James Christensen, Wise and Cole, P.A., Morris Dawes Cooke, Jr., George Trenholm Walker, Charleston, S.C., Roger E. Warin, Antonia B. Ianniello, Steptoe & Johnson, Washington, D.C., W. Sidney Davis, Jr., Marc J. Schiller, Davis, Markel & Edwards, Ronald B. Hauben, New York City, Jack N. Sibley, Howell Hollis, III, Freeman & Hawkins, Atlanta, Ga., Richard S. Rosen, Rosen, Rosen & Hagood, Joseph H. McGee, Buist, Moore, Smythe & McGee, David Brian McCormack, Morris D. Rosen, Wade H. Logan, III, Holmes & Thomson, Charleston, S.C., Richard D. Wilkinson, Gail E. Xiques, Lowenstein Sandler Kohl Fisher & Boylan, Roseland, N.J., Lawrence J. Fox, James M. Sweet, Drinker, Biddle & Reath, Philadelphia, Pa., Paul D. Krause, John T. May, Jordan, Coyne, Savits & Lopata, Washington, D.C., James B. Vaught, Mt. Pleasant, S.C., for defendants in No. 2:90-0196-8.

Francis Thomas Draine, Columbia, S.C., J. Kendall Few, J. Kendall Few, P.A., James Robinson Gilreath, Greenville, S.C., for plaintiffs in No. 2:90-278-8.

Donald Harland Stubbs, Columbia, S.C., Thomas Dewey Wise, Wise & Cole, P.A., David Paul McCann, James Kevin Holmes, Steinberg, Spitz, Goldberg, Pearlman, Holmes & White, Charleston, S.C., for defendants in No. 2:90-278-8.

Mark Charles Tanenbaum, Charleston, S.C., Thornwell Forrest Sowell, III, Nelson, Mullins, Riley & Scarborough, Columbia, S.C., J. Michael Rediker, David R. Donaldson, David J. Guin, Birmingham, Ala., Richard David Chard, North Charleston, S.C., for plaintiffs in No. 2:90-279-8.

Marvin Lee Robertson, Jr., Mt. Pleasant, S.C., Robert Michael Drose, Charleston, S.C., Arthur Timothy Jones, Freeman & Hawkins, Atlanta, Ga., Alice Fountain Paylor, Rosen, Rosen & Hagood, Charleston, S.C., for defendants in No. 2:90-279-8.


ORDER

BLATT, District Judge.

Factual Background

A. The Parties

On March 12, 1987, the Patriot's Point Development Authority ("Development Authority"), a public entity pursuant to South Carolina statute, issued $21 million of high yield, unrated tax exempt revenue bonds. The bond proceeds were to be used to build and develop a hotel and marina complex at Patriot's Point, Charleston, South Carolina (the "Project"), and to...

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