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JACKSON v. THWEATT

Nos. D-3057, D-3437.

883 S.W.2d 171 (1994)

Cordus JACKSON, Jr., Petitioner, v. Gary THWEATT, Respondent. FEDERAL DEBT MANAGEMENT, INC., Petitioner, v. Lee WEATHERLY, Respondent.

Supreme Court of Texas.

Rehearing Overruled April 20, 1994.

Attorney(s) appearing for the Case

John Gregory Hale, Houston, Don Busby, Temple, Steven T. Polino and James Masek, Dallas, for petitioners.

Jon H. Burrows, Jack R. Crews, Temple and Robert H. Renneker, Dallas, for respondents.

Chief Justice PHILLIPS delivered the opinion of the Court in which all Justices join. Justice ENOCH not sitting.

Under 12 U.S.C. § 1821(d)(14), the FDIC has six years to bring suit on delinquent notes acquired from a failed bank. The issue presented in these consolidated cases is whether purchasers of such notes from the FDIC obtain the benefit of this federal limitations period. Because we conclude that they do, we affirm the judgment of the court of appeals...

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