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FDIC v. URBANIZADORA ALTOMAR, INC.

Nos. 90-2055, 90-2056.

941 F.2d 1 (1991)

FEDERAL DEPOSIT INSURANCE CORPORATION, etc., Plaintiff, Appellee, v. URBANIZADORA ALTOMAR, INC., et al., Defendants, Appellants, Robhiz, Inc., Defendant, Appellant. FEDERAL DEPOSIT INSURANCE CORPORATION, etc., Plaintiff, Appellee, v. URBANIZADORA ALTOMAR, INC., et al., Defendants, Appellees, Julio A. Amoedo, Defendant, Appellant.

United States Court of Appeals, First Circuit.

Decided July 24, 1991.

Attorney(s) appearing for the Case

Russell A. Del Toro, with whom Del Toro & Santana and Lydia Lizarribar-Masini, were on brief, Hato Rey, P.R., for appellant Robhiz, Inc.

Frank D. Inserni, Old San Juan, P.R., for appellant Julio A. Amoedo.

Frank Gotay-Barquet, with whom Feldstein, Gelpi & Gotay, Old San Juan, P.R., Ann S. DuRoss, Asst. Gen. Counsel, Colleen S. Bombardier, S. Counsel, Beatrice Valdez, Counsel, Federal Deposit Ins. Corp., Washington, D.C., Rae Schupack Nathan, Regional Counsel, New York City, Nancy Pujals, Managing Atty., were on brief, Hato Rey, P.R., for appellee Federal Deposit Ins. Corp.

Before BREYER, Chief Judge, TORRUELLA and SELYA, Circuit Judges.

TORRUELLA, Circuit Judge.

These are appeals from an action filed by the Federal Deposit Insurance Corporation ("FDIC") seeking to foreclose certain mortgages issued by Urbanizadora Altomar, Inc. ("Altomar"). Besides Altomar, the complaint was originally filed against Julio A. Amoedo ("Amoedo"), who had acquired title, through judicial sales, to three of the mortgaged parcels of real property owned by Altomar. The complaint was subsequently amended to include Robhiz...

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