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FIRST SAV. BANK v. BARCLAYS BANK

Nos. 90-CV-951, 90-CV-1049.

618 A.2d 134 (1992)

FIRST SAVINGS BANK of VIRGINIA, Appellant, v. BARCLAYS BANK, S.A., Appellee. WATERGATE WEST, INC., Appellant, v. BARCLAYS BANK, S.A., Appellee.

District of Columbia Court of Appeals.

Decided December 18, 1992.

Attorney(s) appearing for the Case

Paul A. Kaplan, Washington, DC, with whom Richard E. Henning, Jr., Fairfax, VA, was on the brief, for First Sav. Bank of Virginia.

Geoffrey Judd Vitt, with whom Julie W. Davis and Eileen M. Mallon, Washington, DC, were on the brief, for Barclays Bank, S.A.

Frederic W. Schwartz, Jr., Washington, DC, for Watergate West, Inc.

Before STEADMAN and WAGNER, Associate Judges, and PRYOR, Senior Judge.

STEADMAN, Associate Judge:

This appeal involves competing claims of unpaid creditors to the interest of Basil and Laura Tsakos in a cooperative apartment located in the Watergate West apartment complex. Appellant First Savings Bank of Virginia ("First Savings") asserts a security interest in the apartment arising by virtue of a November 20, 1985 loan to the Tsakos for which they executed an agreement "pledging" their interest in the proprietary lease as collateral...

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