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FAMILY REALTY & CONST. v. MFRS. & TRADERS TRUST

No. 96-CV-0298.

931 F.Supp. 141 (1996)

FAMILY REALTY & CONSTRUCTION CO., LTD., Plaintiff, v. MANUFACTURERS AND TRADERS TRUST COMPANY, Defendant, and Federal Deposit Insurance Corporation, as Receiver for Goldome, Intervening Defendant.

United States District Court, N.D. New York.

July 17, 1996.

Attorney(s) appearing for the Case

Bainbridge & Straus, Birmingham, Alabama (Michael Straus, of counsel), for plaintiff.

Nixon, Hargrave, Devans & Doyle, L.L.P., Albany, New York (Robert S. McEwan, Jr., of counsel), for defendant.

Hiscock & Barclay, L.L.P., Buffalo, New York (Drew V. Tidwell, of counsel), for intervening defendant.

MEMORANDUM-DECISION AND ORDER

McAVOY, Chief Judge.

I. BACKGROUND

Plaintiff, Family Realty & Construction Co., Ltd. ("Family"), commenced this action by filing a Complaint, dated February 15, 1995, against Manufacturers and Traders Trust Company ("M & T") in New York State Supreme Court Albany County seeking payment of the principal and accrued interest on certain Capital Notes. The Capital Notes had been unsecured subordinated liabilities...

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