Legal Opinion
Valley Ranch Development Co. v. Federal Deposit Insurance
Court of Appeals for the Fifth Circuit
Decided May 20, 1992No. 91-1361, 91-1683PublishedCited by 1 opinion
1Opinion of the Court
JERRY E. SMITH, Circuit Judge:
I
Valley Ranch Development Co., Ltd. (VRDC), obtained financing for real estate development from a number of banks. The written documents are in the form of loans; VRDC claims that it had oral agreements with the banks that the banks would act as partners rather than lenders. The various lenders eventually went into receivership and fell under the control of the Federal Deposit Insurance Corporation (FDIC). When VRDC did not make its loan payments, its property was foreclosed upon and its debts accelerated. VRDC sued for securities fraud, breach of oral…
2Cases cited19 opinions
- Stringfellow v. Concerned Neighbors in ActionSupreme Court of the United States · 1987
- Kennedy v. HydeTexas Supreme Court · 1984
- Barber v. GonzalesSupreme Court of the United States · 1954
- Carolyn HUCKEBY, Plaintiff, v. FROZEN FOOD EXPRESS, Defendant-Appellee, v. Alice BOBO, Intervenor-AppellantCourt of Appeals for the Fifth Circuit · 1977
- Blue Sky L. Rep. P 71,737 Horace Flannery v. Art Carroll, D/B/A Hemisphere Petroleum and Ben SchultzCourt of Appeals for the Fifth Circuit · 1982
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