Federal Deposit Insurance Corporation v. Henry S. Lauterbach, John Debelak and Nicholas Lesselyoung, Defendants

SPRECHER, Circuit Judge.

This is an appeal from the district court’s granting of summary judgment in favor of plaintiff, Federal Deposit Insurance Corporation (FDIC). 1 The defendants contend that the district court erred in its interpretation of the relevant statute, 12 U.S.C. § 1823(e), and that genuine issues of material fact precluded summary judgment. We find defendants’ arguments without merit and affirm the judgment below.

I

A

In these actions, the FDIC seeks payment of principal and accrued interest on three promissory notes. 2 Each of the notes is payable to the American City Bank &…