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UNITED STATES v. UNUM, INC.

No. 79-3190.

658 F.2d 300 (1981)

UNITED STATES of America, Plaintiff-Appellee, v. UNUM, INC. and Lance W. Dreyer, Defendants-Appellants.

United States Court of Appeals, Fifth Circuit. Unit A

Rehearing and Rehearing Denied November 17, 1981.

Attorney(s) appearing for the Case

Marilyn H. Elam, Houston, Tex., for defendants-appellants.

Deborah Marie Frye, Helen M. Eversberg, Mary L. Sinderson, Asst. U. S. Attys., Houston, Tex., for plaintiff-appellee.

Before WISDOM, POLITZ and SAM D. JOHNSON, Circuit Judges.

Rehearing and Rehearing En Banc Denied November 17, 1981.

POLITZ, Circuit Judge:

The Small Business Administration (SBA), filed suit to collect the balance due on a promissory note executed by Unum, Inc., and Lance W. Dreyer. Defendants-appellants admitted the obligation, but claimed a discharge from liability because the SBA had unjustifiably impaired the collateral securing the debt by releasing its lien to a third...

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