McMORGAN & CO. v. FIRST CALIFORNIA MORTG. CO.

No. C-94-1115 WHO (BZ).

931 F.Supp. 699 (1996)

McMORGAN & COMPANY, Plaintiff, v. FIRST CALIFORNIA MORTGAGE COMPANY, et al., Defendants.

United States District Court, N.D. California.

February 28, 1996.


Attorney(s) appearing for the Case

Barry E. Hinkle, Van Bourg Weinberg Roger & Rosenfeld, Oakland, CA, Roderick A. McLeod, Brobeck Phleger & Harrison, San Francisco, CA, for McMorgan & Company.

Barry E. Hinkle, Van Bourg Weinberg Roger & Rosenfeld, Oakland, CA, for Carpenters Pension Trust Fund for Northern California, et al.

John L. Anderson, Neyhart Anderson Reilly & Freitas, San Francisco, CA, Christian L. Raisner, Van Bourg Weinberg Roger & Rosenfeld, Oakland, CA, for Sheet Metal Workers of Northern California Pension Trust Fund.

Roderick A. McLeod, Gregory L. Lippetz, Brobeck Phleger & Harrison, San Francisco, CA, for First California Mortgage Co.

Thiele R. Dunaway, Wendel Rosen Black & Dean, Oakland, CA, for Larkspur Creekside Associates, et al.

Jeffrey G. Nevin, Charles E. Finberg, Nevin & Hall LLP, Oakland, CA, Bernard L. Knapp, Ladar & Knapp, San Francisco, CA, for North Bay Properties, Inc., Valwest Development, Inc.

525 Court Street Partnership, Reno, NV, pro se.

Hal Gazin, Reno, NV, for Hal Gazin, dba Hi Tech Ltd., Douglas W. Bailey, Gosliner/McLean Associates, CSW Consultants.

Herbert W. Yanowitz, San Francisco, CA, for Daniel Fox & Associates, Project Control Company, Henry Batteate, Jr., Pro Mag, Inc.

Steven Lanum, Boornazian Jensen & Garthe, Oakland, CA, for Payne Thompson Walker & Taaffe.

Peter O. Glaessner, Hardin Cook Loper Engel & Bergez, Oakland, CA, for City of Reno, National Union Fire Insurance Company.


ZIMMERMAN, U.S. Magistrate Judge.

Plaintiff McMorgan & Company is an investment manager and fiduciary for several pension trust funds, which are subject to the Employee Retirement Income Security Act, 29 U.S.C. § 1001, et seq. ("ERISA"). Defendant First California Mortgage Company sold the trust funds a number of residential construction loans, upon which it retained loan servicing obligations. After borrowers defaulted on some of the construction loans,...

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