Legal Opinion
Resolution Trust Corporation as Conservator for Sunbelt Federal Savings, Fsb v. George Michael Montross
Court of Appeals for the Fifth Circuit
Decided October 9, 1991No. 90-1510PublishedCited by 37 opinions
1Per curiam
The panel held that the federal holder in due course status of Sunbelt Savings, transferee of the notes from the Federal Savings and Loan Insurance Corporation as receiver for the insolvent former Sunbelt Savings, does not protect Sunbelt from personal defenses of the maker of a promissory note which was not negotiable from its inception. The panel opinion at 923 F.2d 353 is reinstated, except that we take no position on the effect of the variable interest rate on the negotiability of the note. The maker of the note gave other reasons for the note being non-negotiable, and the case was…
2Cases cited5 opinions
- D'Oench, Duhme & Co. v. Federal Deposit InsuranceSupreme Court of the United States · 1942
- Bobby Lee Moore v. United StatesCourt of Appeals for the Fifth Circuit · 1979
- Sunbelt Savings, Fsb Dallas, Texas v. George Michael MontrossCourt of Appeals for the Fifth Circuit · 1991
- Armando Fong Najarro and Compania Financiera Libano, S.A. v. First Federal Savings and Loan Association of Nacogdoches, TexasCourt of Appeals for the First Circuit · 1990
- Howell v. Continental Credit Corp.Court of Appeals for the Seventh Circuit · 1981
3Cited by37 opinions
- Federal Savings & Loan Insurance, Receiver of Americity Federal Savings Bank v. Nicholas K. KraljCourt of Appeals for the Fifth Circuit · 1992
- Bailey, Vaught, Robertson and Co. v. Remington Investments, Inc., Texas Court of Appeals, 5th District (Dallas)1994
- Divall Insured Income Fund Limited Partnership, a Wisconsin Limited Partnership v. Boatmen's First National Bank of Kansas CityCourt of Appeals for the First Circuit · 1996
- Park Club, Inc. v. Resolution Trust Corp.Court of Appeals for the Fifth Circuit · 1992
- Federal Savings And Loan Insurance Corporation v. MackieCourt of Appeals for the Fifth Circuit · 1992
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