District Court, District of Columbia November 3, 1992, Civ. A. 90-1755 (RCL) (In Re NBW Commercial Paper Litigation)

MEMORANDUM OPINION AND ORDER

LAMBERTH, District Judge.

Plaintiffs in these consolidated cases are all holders of commercial paper issued by Washington Bancorporation (“WBC”), the holding company which owned the National Bank of Washington (“NBW”). On May 7, 1990, WBC defaulted on all of its outstanding commercial paper, including approximately $35.