Federal Sav. and Loan Ins. Corp. v. Bass

MEMORANDUM OPINION AND ORDER

WILLIAM T. HART, District Judge.

This action, currently before the Court upon the cross motions of all remaining parties for summary judgment, arises out of the failure of Unity Savings Association (“Unity”). The Federal Savings & Loan Insurance Corporation (“FSLIC”) brought its one count complaint against Howard Bass and Mitchell Bass (the “Basses”), former officer-directors of Unity; Howard Harris, Anthony Grassi and Rowland Frazier, former Unity Officers; Intercounty Title Company of Illinois (“Intercounty”), escrow agent for the funds in issue; and Central…