Legal Opinion
Federal Deposit Insurance v. Elder Care Services, Inc.
Court of Appeals for the First Circuit
Decided April 24, 1996No. 95-1729PublishedCited by 29 opinions
1Opinion of the Court
BOUDIN, Circuit Judge.
In January 1987, Brandon Woods of Glen Ellyn, Inc., a wholly owned subsidiary of Elder Care, Inc., borrowed $10.1 million from First Mutual Bank for Savings located in Boston. The purpose was to finance the purchase by Brandon Woods of the site of a former seminary in Glen Ellyn, Illinois, and the development of the property into a retirement community. In due course the property was acquired by Brandon Woods for $4.5 million.
The bank loan was secured by a mortgage on the seminary property and by .two guaranties from third parties in favor of the bank — one from Elder…
2Cases cited8 opinions
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- BFP v. Resolution Trust CorporationSupreme Court of the United States · 1994
- Brown v. Hearst CorporationCourt of Appeals for the First Circuit · 1995
- Robert E. Johnson v. United States Postal Service Marvin Runyon, Postmaster GeneralCourt of Appeals for the Sixth Circuit · 1995
- Pemstein v. StimpsonMassachusetts Appeals Court · 1994
3 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- United States v. NewellCourt of Appeals for the First Circuit · 2011
- prod.liab.rep. (Cch) P 15,170 Generoso Perez-Trujillo v. Volvo Car Corporation (Sweden)Court of Appeals for the First Circuit · 1998
- Federal Refinance Co. v. KlockCourt of Appeals for the First Circuit · 2003
- Fernandes v. HavkinDistrict Court, D. Massachusetts · 2010
- States Resources Corp. v. Architectural Team, Inc.Court of Appeals for the First Circuit · 2005
24 more not listed; retrieve them via the Exa API.