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F.D.I.C. v. BRANTS

No. 91-1890.

2 F.3d 147 (1993)

FEDERAL DEPOSIT INSURANCE CORPORATION, In its corporate capacity, Plaintiff-Appellee, v. H. Clayton BRANTS, Jr. and Lee A. Smith, Defendants, H. Clayton Brants, Jr., Defendant-Appellant. FEDERAL DEPOSIT INSURANCE CORPORATION, In its corporate capacity, Plaintiff-Appellee, v. O.L. PITTS, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

September 22, 1993.

Attorney(s) appearing for the Case

Wesley C. Stripling, IV, Ft. Worth, TX, for defendant-appellant.

Watson B. Tucker, Michael P. Rissman, Mayer, Brown & Platt, Chicago, IL, Terri Truitt Griffiths, Mayer, Brown & Platt, Houston, TX, for plaintiff-appellee.

Before GOLDBERG, SMITH, and EMILIO M. GARZA, Circuit Judges.

EMILIO M. GARZA, Circuit Judge:

Defendants, H. Clayton Brants, Jr. and O.L. Pitts ("Brants and Pitts" or "defendants"), executed separate notes in favor of the Federal Deposit Insurance Corporation's ("FDIC") predecessor in interest, and later defaulted on those notes. When the FDIC sued to collect on the notes, Brants and Pitts contended that they had been released from their obligations by a settlement agreement signed by the FDIC in a lawsuit against other defendants...

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