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GOVERNMENT GUAR. FUND v. HYATT CORP.

No. 96-7288.

95 F.3d 291 (1996)

GOVERNMENT GUARANTEE FUND OF the REPUBLIC OF FINLAND; Saastopankkien Keskus-Osake-Pankki (Skopbank); 35 Acres Associates; 12 Acres Associates; Benefori Oy v. HYATT CORPORATION, Appellant.

United States Court of Appeals, Third Circuit.

Decided September 12, 1996.

Attorney(s) appearing for the Case

Edward G. Biester, III, Michael M. Baylson (argued), Cecelia L. Fanelli, Duane, Morris & Heckscher, Philadelphia, PA, Warren B. Cole, Hunter, Colianni, Cole & Turner, Christiansted, St. Croix, U.S. Virgin Islands, for Appellees.

John A. Zebedee, Office of James L. Hymes, III, Charlotte Amalie, Saint Thomas, U.S. Virgin Islands, Mary A. McLaughlin, Michael F.R. Harris, Dechert, Price & Rhoads, Philadelphia, PA, John A. Sopuch, III, Bickel & Brewer, Chicago, IL, William A. Brewer, III, James S. Renard (argued), John D. van Loben Sels, Michael L. Gaubert, Jamil N. Alibhai, Bickel & Brewer, Dallas, TX, for Appellant.

Before: GREENBERG and ALITO, Circuit Judges, and DEBEVOISE, District Judge.

OPINION OF THE COURT

GREENBERG, Circuit Judge.

I. INTRODUCTION

Hyatt Corporation is the manager of a resort hotel on St. John in the U.S. Virgin Islands. Hyatt's management powers arise from agreements executed in March 1990 among Hyatt, Great Cruz Bay Development Co., Inc. ("Great Cruz"), the owner of the hotel, and Great Cruz's lender, Saastopankkien Keskus-Osake-Pankki ("Skopbank").1 After Skopbank foreclosed on...

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