Electrical Equipment Company v. Security National Bank, John W. Underwood and John P. Cooney

SPOTTSWOOD W. ROBINSON, III, Circuit Judge:

This appeal is the last vestige of protracted legal disputations stemming from an ill-fated effort to construct an office building known as Columbia Plaza in Northwest Washington, D. C., 1 Insulation Contractors, Inc. (Insulation), brought this suit to recover damages from the trustees under a deed of trust on the Columbia Plaza property securing a construction loan from Royal National Bank (Royal) to the developers of the project, the Columbia Plaza Corporation (Columbia). The gist of Insulation’s complaint is that the trustees wrongfully failed to…