Legal Opinion
Northwest Racquet Swim & Health Clubs, Inc. v. Resolution Trust Corp.
Court of Appeals for the Eighth Circuit
Decided February 28, 1991No. Nos. 89-5526 and 89-5585PublishedCited by 4 opinions
1Opinion of the Court
BRIGHT, Senior Circuit Judge.
Northwest Racquet Swim & Health Clubs, Inc. (Northwest) appeals the district court’s1 grant of summary judgment2 in favor of the Resolution Trust Corporation (RTC) in this action for rescission of subordinated debt securities purchased from now insolvent Midwest Federal Savings and Loan Association (MWF). On appeal, Northwest contends that MWF’s insolvency does not affect its right to rescind the securities which MWF fraudulently induced it to purchase. Northwest further asserts that its post-insolvency act of rescission of the securities elevated the subordinated…
2Cases cited16 opinions
- Anderson v. Liberty Lobby, Inc.Supreme Court of the United States · 1986
- American National Bank Of Jacksonville v. Federal Deposit Insurance CorporationCourt of Appeals for the Eleventh Circuit · 1983
- Scott v. DeweeseSupreme Court of the United States · 1901
- Kegel v. RunnelsCourt of Appeals for the Eighth Circuit · 1986
- Soo Line Railroad Company v. Escanaba & Lake Superior Railroad CompanyCourt of Appeals for the Seventh Circuit · 1988
11 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Adams v. Resolution Trust Corp.Court of Appeals for the Eighth Circuit · 1991
- Lambert v. Callahan (In Re Lambert Oil Co.)District Court, W.D. Virginia · 2006
- Stephen Adams v. Resolution Trust Corporation as Receiver for Midwest Federal Savings and Loan Association Harold W. Greenwood, Jr. Donald Snede and John Does 1-10, Stephen Adams v. Federal Deposit Insurance Corporation (Fdic) as Manager of the Fslic Resolution FundCourt of Appeals for the Eighth Circuit · 1991
- Northwest Racquet Swim & Health Clubs, Inc. v. Resolution Trust CorporationCourt of Appeals for the Eighth Circuit · 1991