Federal Deposit Insurance v. Claycomb

CHARLES SCHWARTZ, Jr., District Judge:

Defendants, SHWC, Inc., D.M. Wilson and E.L. Swanson [hereinafter referred to collectively as “SHWC”] appeal from a $2,359,891.28 judgment2 against them, jointly and severally, in favor of the Federal Deposit Insurance Corporation (“FDIC”), as Receiver for Vernon Savings and Loan Association, FSA. SHWC argues on appeal that there exist material issues of fact concerning defendants’ claim of usury and *855whether the loan documents at issue demonstrated the elements of partnership or joint venture under Texas law. SHWC further claims the district court erred…