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PRINCE GEORGE JOINT VENTURE v. SUNBELT SAV.

Civ. A. No. CA3-90-1520-D.

744 F.Supp. 133 (1990)

PRINCE GEORGE JOINT VENTURE, a Texas General Partnership, et al., Plaintiffs, v. SUNBELT SAVINGS, F.S.B., a Federal Savings Bank, et al., Defendants.

United States District Court, N.D. Texas, Dallas Division.

September 7, 1990.

Attorney(s) appearing for the Case

Michael F. Pezzulli and Melanie Gee of Pezzulli & Associates, Dallas, Tex., for plaintiffs.

Elizabeth A. Lang-Miers and C. Michael Moore of Locke Purnell Rain Harrell, Dallas, Tex., for defendant Sunbelt Sav., F.S.B.

Britt Monts of Lynch Chappell & Alsup, Dallas, Tex., for defendant FDIC.

Robert W. Dupuy of Brown Maroney & Oaks Hartline, Dallas, Tex., for defendants First Stockton Partners, First Stockton Service Corp., and The Resolution Trust Corp. as Receiver for Southwest Sav. Ass'n.

FITZWATER, District Judge:

The court is asked to decide whether the 90-day stay provision of 12 U.S.C. § 1821(d)(12) is mandatory.

I

In this case plaintiffs Prince George Joint Venture and Prince George Corporation assert claims against various defendants, including the Federal Deposit Insurance Corporation ("FDIC") and the Resolution Trust Corporation ("RTC"), for breach of a joint venture agreement, breach of duty of good faith and fair dealing...

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