Small Business Administration, Etc. v. Louis Taubman

DUNIWAY, Circuit Judge:

Appellee Small Business Administration (SBA) as Receiver of Newman Capital Corporation, sued appellant Taub-man in this action for $60,000 owed on a note made by Taubman to Newman Capital. Taubman admitted liability on the note, but counterclaimed as the as-signee of Olympic Capital Corporation for an amount allegedly owed to Olympic by Newman Capital. The trial court granted SBA’s motion for summary judgment on the counterclaim on the ground of res judicata. Taubman appeals and we affirm.

Taubman’s counterclaim arose out of a transaction in 1963 in which Olympic loaned…