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UNION STATE BANK v. WEAVER

No. 79 Civ. 0440.

526 F.Supp. 29 (1981)

UNION STATE BANK, Plaintiff, v. A. Vernon WEAVER, Administrator, Small Business Administration, and Small Business Administration, Defendants.

United States District Court, S. D. New York.

March 26, 1981.

Attorney(s) appearing for the Case

Fury & Kennedy, Pearl River, N. Y., for plaintiff.

John S. Martin, Jr., U. S. Atty., S. D. N. Y., New York City, for defendants; William J. Brennan, Asst. U. S. Atty., New York City, of counsel.

MEMORANDUM AND ORDER

OWEN, District Judge.

This litigation arises out of a decision by the Small Business Administration ("SBA") not to honor a guaranty on a $350,000 loan extended by the Union State Bank (the "Bank") to the Stahlmark Furniture Co., Inc. ("Stahlmark"). In its complaint, the Bank advances several legal and equitable theories in support of its contention that the SBA wrongfully repudiated its guaranty of the loan in question. Discovery has...

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