F.D.I.C. v. RAYMAN

No. 96-2675.

117 F.3d 994 (1997)

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff-Appellee, v. Steven M. RAYMAN, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided June 26, 1997.


Attorney(s) appearing for the Case

Michael D. Freeborn, John E. Farrell, Freeborn & Peters, Chicago, IL, Kathryn R. Norcross (argued), Federal Deposit Insurance Corporation, Washington, DC, Brad L. Jansen, Federal Deposit Insurance Corporation, Division of Depositor & Assets Services, Chicago, IL, for plaintiff-appellee.

Deborah L. Kuhn, Keck, Mahin & Cate, Marc L. Fogelberg, Donald G. Mulack (argued), McBride, Baker & Coles, Chicago, IL, for defendant-appellant.

Before BAUER, WOOD, Jr. and COFFEY, Circuit Judges.


HARLINGTON WOOD, JR., Circuit Judge.

When he signed the guaranty for his $525,000 land purchase loan back in 1969, promising to pay the holder of the note if the loan went into default, Defendant-Appellant Steven Rayman surely had no idea that nearly thirty years later the loan would still be unpaid and that he would owe nearly twice its amount. In this case, Rayman appeals the district court's grant of summary judgment in favor of Plaintiff-Appellee Federal Deposit...

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