Federal Deposit Insurance v. Morley

HILL, Senior Circuit Judge:

This appeal concerns the district court’s award of a deficiency judgment resulting from the default on a $37 million construction loan. Appellants, the mortgagor and guarantors of the loan, as well as a trustee, *1519challenge the district court’s refusal to permit live testimony on disputed facts relevant to the amount of the deficiency. Appellants also raise several other issues. We affirm.

I.FACTUAL AND PROCEDURAL HISTORY

In April, 1981, appellant Regina Interiors, Inc. (“Regina”) obtained a thirty-seven million dollar construction loan from Continental Bank…