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F.D.I.C. v. ARCIERO

No. 12-6287.

741 F.3d 1111 (2013)

FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver of First State Bank of Altus, Altus, Oklahoma, Plaintiff-Counter-Defendant-Appellee, v. Mark ARCIERO; William Newland; Thompson-Dodson Farms, LLC; Keith Dodson; Gerald Ray Smith, Defendants-Counter-Claimants-Appellants.

United States Court of Appeals, Tenth Circuit.

December 20, 2013.

Attorney(s) appearing for the Case

Todd Taylor , Taylor & Strubhar, P.C., ( Larry D. Derryberry and Rachel R. Shephard , Derryberry & Naifeh, LLP, with him on the briefs), Oklahoma City, OK, for Defendants-Counter-Claimants-Appellants.

David L. Bryant , GableGotwals, Tulsa, OK, ( John Henry Rule and Barabara M. Moschovidis , GableGotwals, Tulsa, OK, and Leslie L. Lynch , GableGotwals, Oklahoma City, OK, with him on the brief), for Plaintiff-Counter-Defendant-Appellee.

Before HARTZ, O'BRIEN, and TYMKOVICH, Circuit Judges.

HARTZ, Circuit Judge.

In an effort to save Quartz Mountain Aerospace, some of its investors and directors took out large loans from First State Bank of Altus (the Bank) for the benefit of the company. When the Bank failed in 2009, the Federal Deposit Insurance Corporation (FDIC) took over as receiver and filed suit to collect on the loans. This appeal concerns the challenge to those collection efforts by four of those liable on the notes (Borrowers). Borrowers raised...

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