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FEDERAL DEPOSIT INS. CORP. v. HARRISON

No. 83-7123.

735 F.2d 408 (1984)

FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity, Plaintiff-Appellant, v. Jack H. HARRISON and Frederick G. Rixey, Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

June 29, 1984.

Attorney(s) appearing for the Case

John F. Kizer, Jr., Birmingham, Ala., for plaintiff-appellant.

R.A. Ferguson, Jr., Leach, Hampe, Dillard & Ferguson, Ann Z. Arnold, Birmingham, Ala., for defendants-appellees.

Before KRAVITCH, JOHNSON and HATCHETT, Circuit Judges.

KRAVITCH, Circuit Judge:

In this debt collection action appellant Federal Deposit Insurance Corporation ("FDIC") filed suit against appellees Jack H. Harrison and Frederick G. Rixey as guarantors of a promissory note made by one Henry B. Bell.1 FDIC, as receiver of Southern National Bank, purchased the note and guaranty agreements from the bank after it was declared insolvent on June 14, 1979.

In 1977 Bell, Harrison and Rixey formed...

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