First American Savings Bank, FSB v. Iron County (In Re United Construction & Development Co.)

MEMORANDUM OPINION AND ORDER

GLEN E. CLARK, Chief Judge.

This matter is presently before the court on a Motion for Summary Judgment filed by the plaintiffs, First American Savings Bank, F.S.B., Greensboro, North Carolina, and the F.D.I.C., as Receiver for American Federal Savings & Loan Association, Anderson, Indiana, Trustees (hereafter collectively referred to as the “Financial Institutions”). A hearing was held on May 30, 1991. Mark 0. Morris, Esq., and Brent D. Wride, Esq., appeared on behalf of the plaintiffs. Kent L. Christiansen, Esq., appeared on behalf of the defendants, Iron County, a…