FDIC v. ASSOCIATED NURSERY SYSTEMS

No. 90-6270.

948 F.2d 233 (1991)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff-Appellee, v. ASSOCIATED NURSERY SYSTEMS, INC., Defendant, S. Frank Guinn, Jr., Defendant-Appellant.

United States Court of Appeals, Sixth Circuit.

Decided October 30, 1991.


Attorney(s) appearing for the Case

M. Edward Owens, Jr., Lewis, King, Krieg & Waldrop, Knoxville, Tenn., Jaclyn C. Taner (argued), Michelle Kosse (briefed), Federal Deposit Ins. Corp., Washington, D.C., for plaintiff-appellee.

Edward L. Summers (argued and briefed), Haynes, Meek & Summers, Knoxville, Tenn., for defendant and defendant-appellant.

Before RYAN and BOGGS, Circuit Judges, and DOWD, District Judge.


DOWD, District Judge.

I. INTRODUCTION.

This case is before the Court on appeal from the district court's grant of summary judgment in favor of plaintiff-appellee, the Federal Deposit Insurance Corporation ("FDIC"). The FDIC brought suit against defendant-appellant S. Frank Guinn, Jr. ("Guinn") and Associated Nursery Systems, Inc. ("Associated Nursery") on May 26, 1989 to collect amounts due on a $1.5 million promissory note. Associated Nursery was the principal...

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