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FEDERAL DEPOSIT INS. CORP. v. HARDT

No. 85-3553.

646 F.Supp. 209 (1986)

FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity, Plaintiff, v. Theodore HARDT, Defendant.

United States District Court, C.D. Illinois, Springfield Division.

October 23, 1986.

Attorney(s) appearing for the Case

Mark Lipton, David E. Worsley, Champaign, Ill., for plaintiff.

Mercer Turner, Bloomington, Ill., for defendant.

OPINION ORDER

MILLS, District Judge:

Is the guarantor discharged from liability where the creditor fails to perfect its security interest in the collateral?

No.

Summary judgment for Plaintiff.

This suit is brought by the Federal Deposit Insurance Corporation (FDIC), in its corporate capacity. The FDIC seeks to collect on a note and related guaranty which it purchased from the receiver...

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