Remington Investments, Inc. v. Hamedani

Opinion

ZEBROWSKI, J.

This case concerns the requirements for proving a debt owing to a bank taken over by the Federal Deposit Insurance Corporation (FDIC). After the FDIC took over the bank in this case, the FDIC assigned the bank’s assets to the plaintiff. One such asset was the lender’s position in a “revolving line of credit.” The line of credit was evidenced by a document somewhat inaccurately entitled “Promissory Note.” The Promissory Note document was not a promissory note for a specific sum, but rather provided that defendant was liable for all sums which might either be “advanced” to…