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PREMIER BANK, NAT. ASS'N v. MOSBACHER

No. 91-3094.

959 F.2d 562 (1992)

PREMIER BANK, NATIONAL ASSOCIATION, Successor in Interest to and Formerly Known as Louisiana National Bank of Baton Rouge, Plaintiff-Appellant, v. Robert H. MOSBACHER, Secretary of the Department of Commerce of the USA, et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

April 29, 1992.

Attorney(s) appearing for the Case

W. Shelby McKenzie, Fredrick R. Tulley, J. Ashley Moore, Tom F. Phillips, Taylor, Porter, Brooks & Phillips, Baton Rouge, La., for Premier Bank, N.A.

Walter J. McLellan, Sr. Atty., Comm. Lit. Div., Office of Gen. Counsel, U.S. Dept. of Commerce, Washington, D.C., John J. Gaupp, Asst. U.S. Atty., R. Raymond Lamonica, U.S. Atty., Baton Rouge, La., for defendants-appellees.

Before REAVLEY, JOLLY and HIGGINBOTHAM, Circuit Judges.

REAVLEY, Circuit Judge:

Premier Bank, N.A. (Premier) sued the Economic Development Administration (EDA) of the United States Department of Commerce to collect on EDA's guarantee of a loan that Premier's predecessor made to Louisiana Chemical Polymers, Inc. (Polymers) and its president, William J. McFerrin. The district court found that Premier breached the Guarantee Agreement by modifying McFerrin's obligations on the loan, and that this breach released EDA from its...

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