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F.D.I.C. v. MARINE MIDLAND REALTY CREDIT CORP.

Nos. 92-1019, 92-1020.

17 F.3d 715 (1994)

FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for New Bank of New England, Plaintiff-Appellee, v. MARINE MIDLAND REALTY CREDIT CORPORATION; Delaware Credit Corporation (USA), Defendants-Appellants. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for New Bank of New England, Plaintiff-Appellant, v. MARINE MIDLAND REALTY CREDIT CORPORATION; Delaware Credit Corporation (USA), Defendants-Appellees.

United States Court of Appeals, Fourth Circuit.

Decided March 2, 1994.

Attorney(s) appearing for the Case

ARGUED: John Sutton Stump, McGuire, Woods, Battle & Boothe, McLean, Virginia, for appellant. Jerome Anthony Madden, Federal Deposit Insurance Corporation, Washington, D.C., for appellee. ON BRIEF: Thomas F. Farrell, Robert R. Vieth, McGuire, Woods, Battle & Boothe, McLean, Virginia, for appellant. Ann S. DuRoss, Assistant General Counsel, Richard J. Osterman, Jr., Senior Counsel, S. Alyssa Roberts, Federal Deposit Insurance Corporation, Washington, D.C., for appellee.

Before ERVIN, Chief Judge, HALL, Circuit Judge, and CHAPMAN, Senior Circuit Judge.

OPINION

ERVIN, Chief Judge:

The Federal Deposit Insurance Corporation ("FDIC") acting as receiver ("Receiver-New Bank") for New Bank of New England, N.A. ("New Bank") was substituted as plaintiff in this action against Marine Midland Realty Corporation and Delaware Credit Corporation (USA) (collectively, "Marine"), arising out of a participation agreement entered into by Marine and Bank of New England, N.A. ("BNE"). Marine asserted a counterclaim against...

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