Federal Deposit Insurance Corporation v. Joseph P. Lanier, and Bill D. Whittington and Thomas J. O'Grady

JERRY E. SMITH, Circuit Judge:

Defendants guaranteed notes made by D-l Enterprises, Inc., and its three subsidiaries. The Federal Deposit Insurance Corporation (FDIC), acting in its corporate capacity for the failed bank that had extended the loan, obtained a deficiency judgment against two of the guarantors. Because the bank gave proper notice of its intent to sell the inventory, we affirm the judgment in favor of the FDIC.

I

Defensive Security Southwest, Inc. (Defensive Security), Defensive Fire Control, Inc. (Defensive Fire), and Unisec, U.S.A., Inc. (Unisec), were distributors and installers…