Federal Deposit Insurance v. Fagan

CHAPMAN, Circuit Judge:

Federal Deposit Insurance Corporation (“FDIC”) commenced this action seeking recovery on a guaranty agreement executed by Wylie H. Fagan and Scott M. Waldron to American Bank and Trust (“AB&T”) dated August 31, 1972. The district court found that as to Fagan the guaranty did not cover credit extended by AB&T after it was advised of Fagan’s death. The court further found that Fagan’s widow, in her capacity as distributee of Fagan’s estate, was responsible only on the note designated as Asset No. L-2268, and the district court denied plaintiff’s claim for an attorney’s…