American Bankers Life Assurance Co. v. United States

OPINION

YOCK, Judge:

This action is before the Court on cross-motions for summary judgment regarding the Government’s liability under a maritime guarantee agreement. For the reasons discussed herein, the defendant’s motion is granted, the plaintiff’s motion is denied, and the complaint is to be dismissed.

Facts

On July 24, 1979, the Secretary of Commerce, acting through the National Marine Fisheries Service (NMFS) of the United States Department of Commerce, entered *168into an agreement to guarantee a loan made by Bache, Halsy, Stuart, Shields, Inc. (Bache), to Darce, Inc. (Darce), to finance the…