RESOLUTION TRUST CORP. v. CARR

No. 93-1418.

13 F.3d 425 (1993)

RESOLUTION TRUST CORPORATION, in its Capacity as Receiver for Home Federal Savings Bank of Worcester, Plaintiff, Appellee, v. Michael F. CARR, Defendant, Appellant.

United States Court of Appeals, First Circuit.

Decided December 22, 1993.


Attorney(s) appearing for the Case

Mark S. Furman with whom Edward R. Wiest and Tarlow, Breed, Hart, Murphy & Rodgers, P.C., Boston, MA, were on brief for defendant, appellant.

Thomas Paul Gorman with whom Sherin & Lodgen, Boston, MA, was on brief for plaintiff, appellee.

Before BREYER, Chief Judge, ROSENN, Senior Circuit Judge, and CYR, Circuit Judge.


ROSENN, Senior Circuit Judge.

This appeal has its genesis in the real estate recession which first struck New England and many other parts of the country several years ago. The malaise apparently not only adversely affected the appellant, Michael F. Carr, a real estate developer, but also the Home Federal Savings Bank (the Bank) from whom he borrowed a substantial sum of money. The Bank foreclosed on an unimproved ocean lot Carr mortgaged to it. Ultimately, the Bank...

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