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F.D.I.C. v. O'FLAHAVEN

Civ. No. 91-433-B.

857 F.Supp. 154 (1994)

FEDERAL DEPOSIT INS. CORP., as Liquidating Agent for Hillsborough Bank and Trust Co. v. Kathleen O'FLAHAVEN, et al.

United States District Court, D. New Hampshire.

Order on Reconsideration July 11, 1994.

Attorney(s) appearing for the Case

John C. LaLiberte, Sherin & Lodgen, Boston, MA, for F.D.I.C.

Janine Gawryl, Richards, Gawryl & MacAllister, Nashua, NH, for Kathleen E. O'Flahaven.

Thomas H. Richards, Sheehan, Phinney, Bass & Green, P.A., Grenville Clark, III, Gray, Wendell & Clark, Manchester, NH, for Percy L. Fennell.

Deaver Brown, pro se.

ORDER

KELLEHER, District Judge.

Teksource, Inc., a Massachusetts corporation, borrowed $400,000 from Hillsborough Bank and Trust. Defendants Kathleen O'Flahaven, Teksource's President, and Percy Fennell, Chair of Teksource's Board of Directors, signed the loan papers. Hillsborough Bank was declared insolvent and its assets assumed by the Federal Deposit Insurance Corporation (FDIC). Teksource is also insolvent and has failed to pay its loan from Hillsborough...

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