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FEDERAL DEPOSIT INS. CORP. v. CROUCH

No. 85-6005.

816 F.2d 1110 (1987)

FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity, Plaintiff-Appellee, v. M.F. CROUCH, Clifford E. Hemingway, and Mary Hemingway, Defendants-Appellants.

United States Court of Appeals, Sixth Circuit.

Decided April 22, 1987.

Rehearing Denied June 4, 1987.

Attorney(s) appearing for the Case

Russell D. Carroll, Taylor and Groover, Knoxville, Tenn., Jack Hamilton (argued), Charlotte, N.C., for defendants-appellants.

Rex R. Veal, Knoxville, Tenn., Patricia Horton (argued), for plaintiff-appellee.

Before KRUPANSKY and RYAN, Circuit Judges, and EDWARDS, Senior Circuit Judge.

RYAN, Circuit Judge.

This is an action on a promissory note. The maker and guarantors appeal the district court's order granting summary judgment in favor of F.D.I.C. Appellants contend that North Carolina law, which governs this case, requires F.D.I.C. to foreclose upon the collateral securing the note before personal judgment may enter against them. The district court disagreed and held that even though foreclosure was pending in a separate jurisdiction, F.D.I.C...

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