Legal Opinion
Export-Import Bank v. Advanced Polymer Sciences, Inc.
Court of Appeals for the Sixth Circuit
Decided May 5, 2010No. 09-3414PublishedCited by 21 opinions
1Opinion of the Court
OPINION
BOYCE F. MARTIN, JR., Circuit Judge.
Export-Import Bank (Ex-Im Bank), an agency of the United States, was the holder of a promissory note by Advanced Polymer Sciences, Inc. (APS) and of guaranties by Donald Keehan and Arlene Keehan guaranteeing the entirety of the APS obligation. Ex-Im Bank obtained the note and the guarantees by assignment from Bank One, N.A., which had originally extended credit to APS. Both the note and the guarantees contained cognovit provisions, allowing the beneficiary to confess judgment against the obligor in the event of default. APS defaulted on the debt…
2Cases cited9 opinions
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- Angela M. Phelps v. John D. McClellanCourt of Appeals for the Sixth Circuit · 1994
- Taylor Building Corp. of America v. BenfieldOhio Supreme Court · 2008
- Jayedeane Thompson v. American Home Assurance Company, Cross-AppelleeCourt of Appeals for the Sixth Circuit · 1996
- In Re: Graham Square, Inc.Court of Appeals for the Sixth Circuit · 1997
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3Cited by21 opinions
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- Bay Shore Power Co. v. Oxbow Energy SolutionsCourt of Appeals for the Sixth Circuit · 2020
- JPMorgan Chase Manhattan Bank v. Larry WingetCourt of Appeals for the Sixth Circuit · 2017
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