Federal Deposit Insurance Corp. v. Graham

OPINION

WILLIAM E. JUNELL, Justice (Retired).

I. Nature of the Case

This is a breach-of-contract case. Federal Deposit Insurance Corporation (“FDIC”) as Receiver for Western Bank-Westheimer (“Bank”) sued Alan J. Graham and Michael R. Macari (“Borrowers”) as well as George R. Hinsley and Fred T. Magee (“Guarantors”) on a note and guarantees. Borrowers/Guarantors counterclaimed to enforce an agreement to reschedule the debt (“Restructure Agreement”). After a bench trial, the trial court held that (1) the terms of the Restructure Agreement supplanted the terms of the note and guarantees, (2) FDIC…