States Resources Corp. v. Architectural Team, Inc.
Court of Appeals for the First Circuit
1Opinion of the Court
LIPEZ, Circuit Judge.
This case began as an interpleader action to determine the proper distribution of surplus proceeds from a foreclosure sale conducted by States Resources Corporation (“SRC”). To that end, SRC named several defendants with interests in the foreclosed property, including The Architectural Team, Inc. (“TAT”), a junior lien-holder. TAT filed counterclaims against SRC, alleging that SRC mishandled the foreclosure sale and breached its fiduciary duty to TAT. The district court granted summary judgment in favor of SRC, denied a motion by TAT to add a counterclaim, and denied a…
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