National Rural Utilities Cooperative Finance Corporation v. The United States

FRIEDMAN, Circuit Judge.

The principal question in this case, here on appeal from the United States Claims Court, is whether the Rural Electrification Administration (REA) breached a contractual obligation to the appellant, National Rural Utilities Cooperative Finance Corporation (the Cooperative), contained in an agreement between REA and the Wabash Valley Power Association, Inc. (Wabash), whereby a prior mortgage that Wabash had given REA would be modified to secure a loan the Cooperative was to make to Wabash. The answer depends upon whether Wabash satisfied a provision in that agreement…