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MORGAN STANLEY MORTG. v. INSURANCE COM'R OF CAL.

No. 92-55261.

18 F.3d 790 (1994)

MORGAN STANLEY MORTGAGE CAPITAL INC., Plaintiff-Counterdefendant-Appellant, v. INSURANCE COMMISSIONER OF the STATE OF CALIFORNIA, Intervenor-Appellee, and Signature Group, a California Limited Partnership, Defendant-Counterclaimant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided March 10, 1994.

Attorney(s) appearing for the Case

Alexander F. Wiles, Evan A. Jenness, Christopher S. Harman, Irell & Manella, Los Angeles, California, for the plaintiff-counter-defendant-appellant.

Karl L. Rubinstein, Charles S. Bronitsky, Kathleen M. McCain, Rubinstein & Perry, Los Angeles, California, for the intervenor-appellee.

Robert E. McCutcheon, Hastie & Kirschner, Oklahoma City, Oklahoma, for the defendant-counterclaimant-appellee.

Before: William A. Norris, Charles Wiggins and Diarmuid F. O'Scannlain, Circuit Judges.

WILLIAM A. NORRIS, Circuit Judge:

Morgan Stanley Mortgage Capital Inc. appeals the dismissal of its diversity action to establish ownership and possession of certain negotiable mortgage notes ("Notes") issued by two California limited partnerships (collectively the "Signature Partnerships"). Morgan Stanley bought these Notes from the Signature Partnerships pursuant to reverse-repurchase transactions in which the Signature Partnerships agreed to buy back the Notes...

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