Court of Appeals for the First Circuit May 21, 1986, 85-1334, 85-1785 and 85-1836 (Federal Deposit Insurance Corporation v. La Rambla Shopping Center, Inc.)

BREYER, Circuit Judge.

The Federal Deposit Insurance Corporation (FDIC) sued La Rambla Shopping Center, Inc. in federal district court to recover money that La Rambla owed a failed bank, namely Banco Crédito y Ahorro Ponceno. The FDIC sued on the basis of a note executed by La Rambla in 1970; the note was one of Banco Credito’s assets that the FDIC purchased in 1978.