Acquisition Corp. of America v. Federal Deposit Insurance

ORDER GRANTING SUMMARY JUDGMENT

NESBITT, District Judge.

This cause comes before the Court upon Defendant’s Motion for Summary Judgment, originally filed September 13, 1990. 1 The parties having filed their supplemental memoranda, and the Court having carefully reviewed the file, it is hereby ORDERED and ADJUDGED that Defendant’s motion is GRANTED.

FACTS

In December 1988, Sunrise Savings and Loan Association of Florida (“Old Sunrise”) 2 made a loan to Plaintiff Acquisition Corp. of America (“Acquisition”). The loan was secured by a mortgage, and the performance of Acquisition’s obligations under…