F.D.I.C. v. PRINCE GEORGE CORP.

Nos. 94-2161, 94-2162.

58 F.3d 1041 (1995)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff-Appellee, v. PRINCE GEORGE CORPORATION, A South Carolina Corporation, Defendant-Appellant, and Prince George Joint Venture, A Texas Joint Venture; First Stockton Partners, A Texas Joint Venture; Cove Partners B, Limited; First Stockton Service Corporation, Co-Partners of First Stockton Partners, A Texas Joint Venture; Lucille V. Pate, Defendants. FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff-Appellee, v. PRINCE GEORGE CORPORATION, A South Carolina Corporation, Defendant-Appellant, and Prince George Joint Venture, A Texas Joint Venture; First Stockton Partners, A Texas Joint Venture; Cove Partners B, Limited; First Stockton Service Corporation, Co-Partners of First Stockton Partners, A Texas Joint Venture; Lucille V. Pate, Defendants.

United States Court of Appeals, Fourth Circuit.

Decided July 10, 1995.


Attorney(s) appearing for the Case

ARGUED: Herbert William Hamilton, Kennedy, Covington, Lobdell & Hickman, Rock Hill, SC, for appellant.

John Randolph Pelzer, Pelzer & Associates, P.A., Charleston, SC, for appellee.

ON BRIEF: Thomas E. McCutchen, Jr., William E. Hopkins, Jr., McCutchen, Blanton, Rhodes & Johnson, Columbia, SC, for appellant.

Before WILKINSON and HAMILTON, Circuit Judges, and LIVELY, Senior Circuit Judge of the United States Court of Appeals for the Sixth Circuit, sitting by designation.


Affirmed in part, reversed in part, and remanded by published opinion. Senior Circuit Judge LIVELY wrote the opinion, in which Judge WILKINSON and Judge HAMILTON joined.

OPINION

LIVELY, Senior Circuit Judge:

This case concerns the right to a deficiency judgment of the holder of a promissory note secured by a real estate mortgage following foreclosure of the mortgage and sale of the collateral for less than the outstanding amount of the debt. The...

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