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IN RE COLONIAL MORTG. BANKERS CORP.

No. 98-2273.

186 F.3d 46 (1999)

IN RE: COLONIAL MORTGAGE BANKERS CORPORATION, Debtor. Crefisa Incorporated, Plaintiff, Appellee, v. Washington Mutual Bank, F.A., Defendant, Appellant. Hans Lopez-Stubbe, Trustee, Appellant.

United States Court of Appeals, First Circuit.

Decided August 2, 1999.

Attorney(s) appearing for the Case

Ivan R. Fernandez-Vallejo with whom Rodriguez & Fernandez, Jorge Souss and Goldman Antonetti & Cordova, P.S.C. were on brief for appellants.

Luis R. Montanez-Aviles with whom Montanez & Alicea Law Offices was on brief for appellee.

Before SELYA, BOUDIN and LIPEZ, Circuit Judges.

BOUDIN, Circuit Judge.

This appeal is taken from a decision of the United States District Court for the District of Puerto Rico reversing a decision of the federal bankruptcy court. In substance, the district court sustained a claim by Crefisa, Inc., requiring the bankruptcy trustee of Colonial Mortgage Bankers Corporation ("Colonial") to pay over approximately $557,000 comprising security for a note held by Crefisa. The background events are somewhat complicated...

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