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FDIC v. FORTENBERRY FARMS, INC.

Civ. A. No. 89-171-B.

754 F.Supp. 86 (1990)

FEDERAL DEPOSIT INSURANCE CORPORATION as Receiver of Audubon Federal Savings and Loan Association v. FORTENBERRY FARMS, INC., et al.

United States District Court, M.D. Louisiana.

November 17, 1990.

Attorney(s) appearing for the Case

Kurt O. Engelhardt, Little, Metzger & Lamz, Robert S. Rooth, Chaffe, McCall, Phillips, Toler & Sarpy, New Orleans, La., for Federal Deposit Ins. Corp.

Robert N. Habans, Jr., Habans, Bologna & Carriere, New Orleans, La., Captan Jack Wyly, Lake Providence, La., for Fortenberry Farms, Inc.

John Martin Marron, Jackson, Miss., pro se.

RULING ON PLAINTIFF'S MOTION FOR SUMMARY JUDGMENT

POLOZOLA, District Judge.

This action arises out of a default on a promissory note which was secured by continuing guarantees, and the related loan participation arrangement. The facts of this case are not in dispute. A $600,000.00 promissory note was executed by Fortenberry Farms, Inc. (Fortenberry Farm) in favor of Southern Mortgage Company of Louisiana, Inc. (Southern) on December 16, 1982, which was secured...

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