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RESOLUTION TRUST CORP. v. FREEWAY LAND INVESTORS

No. Civ. 91-2107 PHX SMM.

798 F.Supp. 593 (1992)

RESOLUTION TRUST CORPORATION, in its capacity as Conservator of Great American Federal Savings Association, Plaintiff, v. FREEWAY LAND INVESTORS, et al., Defendants.

United States District Court, D. Arizona.

May 11, 1992.

Attorney(s) appearing for the Case

Randy R. Kehrli, Morrison Hecker, Washington, D.C., Mark A. Nadeau, Paul Edward Golab (argued), Morrison & Hecker, Phoenix, Ariz., for Resolution Trust Corp.

Jones Osborn, II, Anna Lorraine Durand, G. Murray Snow (argued), Meyer Hendricks Victor Osborn & Maledon, P.A., Phoenix, Ariz., for Freeway Land Investors, Wayne Taylor and Nora Taylor.

Ronald E. Warnicke, Warnicke & Littler, Phoenix, Ariz., for Ralph Watkins, Jr. and Patricia M. Watkins.

Janet B. Hutchison, Susan G. Wintermute, Robbins & Green, P.A., Phoenix, Ariz., for Hardesty Enterprises, George W. Hardesty, Aliene Hardesty, Lawrence D. Hardesty, Gail Hardesty, Bruce B. Hardesty and Mary Jane Hardesty.

Michael R. Scheurich, William L. Novotny, Mariscal Weeks McIntyre & Friedlander, P.A., Phoenix, Ariz., for Northern Equities Co., Hamilton-Lyons Co., Ricky J. Lyons, Inc., John R. Hamilton and Can Am Financial Corp.

ORDER

McNAMEE, District Judge.

This action arises from Defendant Freeway Land Investors' default on a $2,500,000.00 promissory note secured by a junior trust on a piece of property near McDowell Road and 51st Avenue in Phoenix, Arizona (the subject property). On February 14, 1991, then-Plaintiff Great American Bank (Great American) brought this action in the Superior Court of the State of Arizona, in and for the County of Maricopa, seeking enforcement of...

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