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CITY AND SUBURBAN MNGT. CORP. v. FIRST BANK OF RICHMOND

Civil Action No. 94-506-LON.

959 F.Supp. 660 (1997)

CITY AND SUBURBAN MANAGEMENT CORPORATION, Plaintiff, v. FIRST BANK OF RICHMOND and Bank Services, Inc., Defendants.

United States District Court, D. Delaware.

March 19, 1997.

Attorney(s) appearing for the Case

Allen M. Terrell, Jr., Frederick L. Cottrell, III, Richards, Layton & Finger, Wilmington, DE, for Plaintiff; Edgar M. Whiting, III, Stryker, Tams & Dill, Newark, NJ, of counsel.

Robert G. Carey, Wilmington, DE, for Defendants; Joseph E. Altomare, Titusville, PA, of counsel.

OPINION

LONGOBARDI, District Judge.

On October 11, 1994, City and Suburban Management Corporation ("City & Suburban") filed a complaint against First Bank of Richmond ("First Richmond") and Bank Services, Inc. ("BSI"), alleging that First Richmond and BSI breached certain loan participation and servicing agreements ("Participation Agreements"), negligently performed their servicing obligations under the Participation Agreements, breached fiduciary...

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