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INN AT SARATOGA ASSOCIATES v. F.D.I.C.

No. 935, Docket 94-6205.

60 F.3d 78 (1995)

The INN AT SARATOGA ASSOCIATES, a New York limited partnership; Myra Rynderman, as Administratrix of the Estate of Monia S. Rynderman; William F. Chandler; Steven N. Fischer; Roy Fischer; John S. Gijanto; Lawrence A. Kotlow; and John E. Wolfgang, individually, Plaintiffs-Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as receiver of the Bank of New England, N.A., Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided July 10, 1995.

Attorney(s) appearing for the Case

Phillip G. Steck, Albany, NY (Cooper, Erving, Savage, Nolan & Heller, Albany, NY, of counsel), for plaintiffs-appellants.

Kathryn R. Norcross, F.D.I.C., Washington, DC (Ann S. Duross, Richard J. Osterman, Jr., F.D.I.C., Washington, DC, of counsel), for defendant-appellee.

Before: VAN GRAAFEILAND, WALKER and CABRANES, Circuit Judges.

VAN GRAAFEILAND, Circuit Judge:

On August 1, 1986, the Inn at Saratoga Associates, a limited partnership, Monia Rynderman, its general partner, and seven of its limited partners sued Berkshire Bank & Trust Company in New York Supreme Court alleging that Berkshire reneged on a loan contract. Thereafter, Berkshire was acquired by the Bank of New England, N.A., which subsequently was declared insolvent. When the Federal Deposit Insurance Corporation ("FDIC") took...

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