Federal Deposit Insurance Corp. v. Wells Plaza Ltd. Partnership

Opinion by

Judge ROTHENBERG.

Plaintiff, Federal Deposit Insurance Corporation (FDIC) as receiver for Silverado Banking, Savings and Loan Association (Silverado Banking), appeals the trial court’s order denying its motion to show cause. We reverse and remand with directions.

In October 1984, Silverado Banking loaned defendant Wells Plaza Limited Partnership $3,360,000 to purchase and finance a shopping center. In return, Wells Plaza executed a non-recourse promissory note to Silverado Banking secured by a deed of trust and an assignment of rents and leases. Under .the terms of the note, Silverado…