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EXPORT-IMPORT BANK v. ADVANCED POLYMER SCIENCES

No. 09-3414.

604 F.3d 242 (2010)

EXPORT-IMPORT BANK OF THE UNITED STATES, Plaintiff-Appellee, v. ADVANCED POLYMER SCIENCES, INC., Defendant, Donald and Arlene Keehan, Defendants-Appellants.

United States Court of Appeals, Sixth Circuit.

Decided and Filed: May 5, 2010.

Attorney(s) appearing for the Case

ARGUED: Nicholas Aristides Panagopoulos II, Law Office, Cleveland Heights, Ohio, for Appellants. Alexander A. Rokakis, Assistant United States Attorney, Cleveland, Ohio, for Appellee. ON BRIEF: Jon P. Yormick, Yormick & Associates Co., LPA, Cleveland, Ohio, for Appellants. Alexander A. Rokakis, Assistant United States Attorney, Cleveland, Ohio, for Appellee.

Before MARTIN, SUHRHEINRICH, and WHITE, Circuit Judges.

OPINION

BOYCE F. MARTIN, JR., Circuit Judge.

Export-Import Bank (Ex-Im Bank), an agency of the United States, was the holder of a promissory note by Advanced Polymer Sciences, Inc. (APS) and of guaranties by Donald Keehan and Arlene Keehan guaranteeing the entirety of the APS obligation. Ex-Im Bank obtained the note and the guarantees by assignment from Bank One, N.A., which had originally extended credit to APS. Both the note and the guarantees contained...

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