The United States of America, on Behalf of Its Agency, the Small Business Administration v. Louis Richardson

OPINION OF THE COURT

SCIRICA, Circuit Judge.

This is an appeal from the denial of a motion under Fed.R.Civ.P. 60(b) to open a confessed judgment entered in favor of the Small Business Administration against appellant Louis Richardson. We hold that Richardson did not waive his right to assert the defense of the applicable statute of limitations to the confession of judgment. Therefore, we will reverse the order of the district court and remand for proceedings consistent with this opinion.

I

In 1975, Louis Richardson and his wife, Loretta Massey, founded and were principal owners of a court…