Matter of Parliament Square, Ltd.

967 F.2d 589 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. In re the Matter of PARLIAMENT SQUARE, LTD., a California Limited Partnership, Debtor. PARLIAMENT SQUARE, LTD., a California Limited Partnership, Plaintiff-Appellant, v. CONTINENTAL SAVINGS ASSOCIATION, Defendant-Appellee. No. 90-16797. United States Court of Appeals, Ninth Circuit. Argued and Submitted Nov. 6, 1991. Decided May 26, 1992. Before POOLE, REINHARDT and FERNANDEZ, Circuit Judges. 1 MEMORANDUM * 2 Parliament Square (hereinafter "Parliament"), a California limited partnership, owned an apartment complex in Texas subject to a first mortgage held by Continental Savings (hereinafter "Continental"). Beginning in December, 1984, the property experienced storm and fire losses totaling approximately $230,000. Although the $230,000 in insurance proceeds on claims for these losses were paid and deposited into a non-interest bearing Continental Bank Account, the money was never used to repair the property.…