Federal Deposit Insurance Corp. v. Manning

JUNELL, Justice.

Appellant, Federal Deposit Insurance Corporation, Liquidator of Northeast Bank (F.D.I.C.), plaintiff in the court below, sued Thomas M. Manning, appellee, on a promissory note. A portion of the unpaid balance on the note had been charged off before Northeast Bank, which held the note, was closed and placed in receivership. F.D.I.C. subsequently purchased the note, among other assets of Northeast Bank, and brought suit for the unpaid balance, including the charged-off amount. The trial to the court resulted in a judgment in favor of F.D.I.C. for the amount of the note remaining…