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F.D.I.C. v. WALLACE

No. 91-2524.

975 F.2d 227 (1992)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff-Appellee, Counterclaim-Defendant, v. Edward G. WALLACE, Jr., and Republic Mineral Corporation, Defendants-Appellants, Counterclaim-Plaintiffs.

United States Court of Appeals, Fifth Circuit.

October 20, 1992.

Attorney(s) appearing for the Case

Jack Vickery, Vickery & Associates, Houston, Tex., for defendants-appellants, counterclaim-plaintiffs.

Mark D. Goranson, Jeffrey L. Joyce, Winstead, McGuire, Sechrest & Minick, Houston, Tex., for plaintiff-appellee, counterclaim-defendant.

Before KING, WILLIAMS, and SMITH, Circuit Judges.

JERRY E. SMITH, Circuit Judge:

Edward G. Wallace, Jr., and Republic Mineral Corporation (RMC) appeal a grant of summary judgment in favor of the Federal Deposit Insurance Corporation (FDIC). Finding no error, we affirm.

I.

Wallace, president of RMC, executed a promissory note (the Note), guaranteed by RMC, in favor of Continental Illinois National Bank (CINB) for $4 million on August 30, 1984. CINB extended the Note three times, and under the third...

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