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ELMCO PROPERTIES v. SECOND NAT. FED. SAV. ASS'N

No. 95-3172.

94 F.3d 914 (1996)

ELMCO PROPERTIES, INCORPORATED, Plaintiff-Appellant, v. SECOND NATIONAL FEDERAL SAVINGS ASSOCIATION; Resolution Trust Corporation, as Receiver of and Conservator of Second National Federal Savings Bank, also known as Second National Federal Savings Association; Resolution Trust Corporation, as Receiver of Second National Federal Savings Association, Defendants-Appellees.

United States Court of Appeals, Fourth Circuit.

Decided September 3, 1996.

Attorney(s) appearing for the Case

ARGUED: George Frederick Obrecht, III, Obrecht & Obrecht, Severna Park, Maryland, for Appellant. Kathryn Ryan Norcross, Federal Deposit Insurance Corporation, Washington, DC, for Appellees. ON BRIEF: Ann S. DuRoss, Assistant General Counsel, Richard J. Osterman, Jr., Senior Counsel, Federal Deposit Insurance Corporation, Washington, DC; Marcell Solomon, Solomon & Green, P.C., Greenbelt, Maryland, for Appellees.

Before MURNAGHAN, Circuit Judge, and BUTZNER and PHILLIPS, Senior Circuit Judges.

Reversed by published opinion. Senior Judge PHILLIPS wrote the opinion, in which Judge MURNAGHAN and Senior Judge BUTZNER joined.

OPINION

PHILLIPS, Senior Circuit Judge:

Appellant Elmco Properties, Inc. sued Appellees Second National Federal Savings Association (FSA) and the Resolution Trust Corporation (RTC) — acting in various capacities — seeking declaratory judgment that the RTC had misapplied certain of Elmco's funds to discharge...

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