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INVESTMENT CO. OF THE SOUTHWEST v. REESE

No. 21213.

875 P.2d 1086 (1994)

117 N.M. 654

INVESTMENT CO. OF THE SOUTHWEST, Plaintiff-Appellant, v. Harold K. REESE, Jr., a/k/a Hal Reese, d/b/a Reese Prescription Drug, Brenda Y. Reese, his wife, and Johnny Cope, Defendants-Appellees.

Supreme Court of New Mexico.

April 21, 1994.

Attorney(s) appearing for the Case

Moses, Dunn, Espinosa, Farmer & Tuthill, P.C., Martin K. Holland, Albuquerque, for appellant.

John T. Porter, P.A., John T. Porter, Albuquerque, for appellees.

OPINION

FROST, Justice.

The issue before us is one of first impression in New Mexico: Whether the federal statute of limitations contained in 12 U.S.C. § 1821(d)(14) (Supp. IV 1992) of the United States Banking Code applies to a successor in interest to the Federal Deposit Insurance Corporation (FDIC). The district court held that the successor in interest could not take advantage of the federal limitations period and granted summary judgment...

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