Federal Savings & Loan Insurance v. Quality Inns, Inc.

MEMORANDUM

JOSEPH H. YOUNG, District Judge.

Federal Savings and Loan Insurance Corporation (“FSLIC”), in its capacity as federally-appointed receiver for San Marino Savings and Loan Association, filed suit to recover receivership assets from Quality Inns, Inc., Quality Hotels and Resorts, Inc., and Quality Inns International, Inc. The complaint set forth claims for breach of contract with San Marino, breach of fiduciary duty to San Marino, and conversion of San Marino’s funds. Defendant Quality Hotels and Resorts counterclaimed against FSLIC, alleging unjust enrichment and conversion of assets.

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