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HOPE FURNACE ASSOCIATES, INC. v. F.D.I.C.

No. 95-1505.

71 F.3d 39 (1995)

HOPE FURNACE ASSOCIATES, INC., Plaintiff-Appellant, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver of Eastland Bank & Eastland Savings Bank, Defendant-Appellee.

United States Court of Appeals, First Circuit.

Decided December 6, 1995.

Attorney(s) appearing for the Case

Karen A. Pelczarski, with whom John H. Blish and Blish & Cavanagh, were on brief, for appellant.

Kathleen V. Gunning, Appellate Litigation Section, Federal Deposit Insurance Corporation, with whom Ann S. DuRoss, Assistant General Counsel, Colleen B. Bombardier, Senior Counsel, John P. Parker, Senior Attorney, Federal Deposit Insurance Corporation, Christopher M. Neronha, Hinckley, Allen & Snyder and John P. Parker, were on brief, for appellee.

Before TORRUELLA, Chief Judge, LYNCH, Circuit Judge, and STEARNS, District Judge.

STEARNS, District Judge.

The plaintiff-appellant, Hope Furnace Associates, Inc. ("Hope"), appeals from the entry of summary judgment against it, claiming that Eastland Savings Bank ("Eastland"), the FDIC's predecessor in interest, reneged on a binding commitment to finance a Hope real estate development. We disagree and affirm the judgment of the district court, although on a different ground than the one articulated by that court.

BACKGROUND

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