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U.S. v. WALCOTT

No. 91-8381.

972 F.2d 323 (1992)

UNITED STATES of America, Plaintiff-Appellant, v. Patricia O. Sperring WALCOTT, Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

September 11, 1992.

Attorney(s) appearing for the Case

Michael J. Singer, Richard A. Olderman, Civ.Div., Appellate Staff, U.S. Dept. of Justice, Washington, D.C., for plaintiff-appellant.

Mary Grace Diehl, Joan B. Cravey, Troutman, Sanders, Lockerman & Ashmore, Atlanta, Ga., for defendant-appellee.

BEFORE: COX, Circuit Judge, CLARK, and WELLFORD, Senior Circuit Judges.

WELLFORD, Senior Circuit Judge:

This dispute arises from a $500,000 loan from the Small Business Administration ("SBA") to the husband of the defendant, Patricia Walcott. The defendant guaranteed the loan upon which her husband soon defaulted. The defendant, claiming insufficient funds to pay the entire guaranteed debt, settled the SBA's claim with its purported representative for $75,000. Later, the United States sued defendant Walcott, claiming that the settlement...

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