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AMWEST SAV. ASS'N v. STATEWIDE CAPITAL, INC.

No. 97-20252.

144 F.3d 885 (1998)

AMWEST SAVINGS ASSOCIATION, a Texas state savings and loan association, and HSA Mortgage Company, Plaintiffs-Appellants, v. STATEWIDE CAPITAL, INC., Gayle Schroder, Clay Stone, Melvin Powers, Joe Long, and Gordon Beyerlein, Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied August 13, 1998.

Attorney(s) appearing for the Case

Jay Joseph Madrid, Madrid & Brooks, Dallas, TX, Jeffrey Lloyd Joyce, Carl Wimberley, Winstead Sechrest & Minick, James E. Essig, Liddell, Sapp, Zivrey, Hill & LaBoon, Houston, TX, John L. Hill, Jr., Liddell, Sapp, Zivley, Hill & LaBoon, Austin, TX, for Plaintiffs-Appellants.

Thomas John Sims, Edinburg, TX, Rachel Ann Fefer, Fouts & Moore, Houston, TX, for Statewide Capital, Inc. Schroeder and Powers.

Henry P. Giessel, Giessel, Barker & Lyman, Houston, TX, for Stone and Beyerlein.

James Bruce Bennett, James D. Baskin, III, Baskin, Bennett & Komkov, Austin, TX, for Long.

Before POLITZ, Chief Judge, and DAVIS and DUHÉ, Circuit Judges.

W. EUGENE DAVIS, Circuit Judge:

Appellants Amwest Savings Association ("Amwest") and HSA Mortgage Company ("HSA") appeal from the district court's "take nothing" judgment against them. For the reasons set out below, we affirm the judgment of the district court.

I.

In 1988, Amwest entered into an agreement to purchase the assets of eleven failed savings and loan associations from the Federal Savings and Loan Insurance Corporation ("FSLIC").

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