FDIC v. PROVIDENCE COLLEGE

No. 327, Docket 96-6097.

115 F.3d 136 (1997)

FDIC as Conservator for Crossland Federal Savings Bank, Plaintiff-Appellee, v. PROVIDENCE COLLEGE, Defendant-Appellant, A R Construction, Inc., Westminster Construction, Inc., doing business as Westminster Construction, Co., Bernard Renzi, Philip B. Renzi, Attilia Renzi and Philip Renzi, Defendants.

United States Court of Appeals, Second Circuit.

Decided June 2, 1997.


Attorney(s) appearing for the Case

Mailman & Gigante, New York City (Gary Mailman, of counsel), for Defendant-Appellant.

Cullen & Dykman, Garden City, NY (Peter J. Mastaglio, of counsel), for Plaintiff-Appellee.

Before: KEARSE, WALKER, and JACOBS, Circuit Judges.


JACOBS, Circuit Judge:

In 1987, Providence College (the "College" or "Providence") contracted with two construction companies for a major asbestos abatement project on the campus. The construction companies, both owned by the same family, were evidently short of capital and took out a series of loans from Crossland Savings Bank ("Crossland"). When the first loan was made in 1987, Crossland required the companies' principal officer, Bernard Renzi, to obtain from the...

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