Resolution Trust Corporation v. George H. Lipton, Resolution Trust Corporation v. Airlake Group, Etc.

VAN SICKLE, Senior District Judge.

This action arises out of a loan agreement between Occidental Nebraska Federal Savings Bank (Occidental) and Airlake Group (Airlake). Airlake defaulted on the loan which was secured by a mortgage. Occidental commenced foreclosure proceedings. Pursuant to the guarantor agreements executed by partners owning Air-lake, including George H. Lipton, several partners were sued individually due to Air-lake’s default. In its capacity as successor/conservator for Occidental, Resolution Trust Corporation (RTC) has been substituted for Occidental. Lipton appealed this…