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U.S. v. PARSONS CORP.

Nos. 90-56328, 90-56329.

1 F.3d 944 (1993)

UNITED STATES of America, Plaintiff-Appellant, v. The PARSONS CORP., Defendant-Appellee. UNITED STATES of America, Plaintiff-Appellee, v. The PARSONS CORP., Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided August 6, 1993.

Attorney(s) appearing for the Case

Stan Blumenfeld, Asst. U.S. Atty., Los Angeles, CA, for U.S.

Scott A. Edelman and Kevin S. Rosen, Gibson, Dunn & Crutcher, Los Angeles, CA, for Parsons.

Before: WIGGINS, KOZINSKI and KLEINFELD, Circuit Judges.

KOZINSKI, Circuit Judge:

The Department of Energy (DOE) loaned $99.6 million to two subsidiaries of the Parsons Corporation so they could develop a geothermal power plant. See The Geothermal Loan Guaranty Program, 10 C.F.R. pt. 790 (1990). In return, Parsons guaranteed it would pay DOE up to $3 million if its subsidiaries defaulted. A year later that's what happened: The project collapsed, the borrowers defaulted and the government came looking for its money...

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