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F.D.I.C. v. ENVENTURE V

No. 94-20934.

77 F.3d 123 (1996)

FEDERAL DEPOSIT INSURANCE CORPORATION as Receiver for Western Bank-Westheimer, Plaintiff-Appellee, v. ENVENTURE V, Allen B. Daniels, and Don C. Horton, Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

March 11, 1996.

Attorney(s) appearing for the Case

Douglas A. Daniels, Allen B. Daniels, Daniels & Collins, Houston, TX, for Appellants.

Michelle Kosse, Ann S. DuRoss, F.D.I.C., Washington, D.C., for Appellee.

Before REYNALDO G. GARZA, WIENER and STEWART, Circuit Judges.

REYNALDO G. GARZA, Circuit Judge:

The Federal Deposit Insurance Corporation ("FDIC") brought suit on behalf of a failed bank to collect a debt owed the bank by Enventure V, a Texas Limited Partnership ("Enventure"), Allen B. Daniels ("Daniels"), and Don C. Horton ("Horton"). The court below granted summary judgment in favor of the FDIC. The obligors have appealed. We reverse.

BACKGROUND

On July 15, 1986, Enventure received a loan for $131,697.03...

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