Federal Deposit Insurance Corporation, as Liquidator for the Hamilton National Bank of Chattanooga v. Lattimore Land Corporation

TUTTLE, Circuit Judge:

Collecting on the notes it holds appears to be an occasionally difficult task for the Federal Deposit Insurance Corporation (FDIC). In this action on a note, the FDIC is faced with familiar claims and defenses by obligors who have long been delinquent in their payments on the note. The district court disallowed most of those claims and defenses and granted the FDIC’s motion for summary judgment on the liability on the note. The resulting appeal by the obligors draws our affirmance of the district court.

FACTS

On May 24, 1974, Lattimore Land Corporation made a real estate…