Federal Deposit Ins. Corp. v. Hardt

OPINION ORDER

MILLS, District Judge:

Is the guarantor discharged from liability where the creditor fails to perfect its security interest in the collateral?

No.

Summary judgment for Plaintiff.

This suit is brought by the Federal Deposit Insurance Corporation (FDIC), in its corporate capacity. The FDIC seeks to collect on a note and related guaranty which it purchased from the receiver of an insolvent bank. Dennis Hardt is the maker of the note and Theodore Hardt is the guarantor of the note. The first count seeks collection against the maker and the second count predicates liability on the…