UNITED STATES COURT OF APPEALS
For the Fifth Circuit
No. 96-40079
Summary Calendar
PREMIER FINANCIAL SERVICES - TEXAS L. P.,
Plaintiff-Counter Defendant-Appellee,
VERSUS
WAYNE A. LUNDQUIST, JR., ET AL.,
Defendants,
WAYNE A. LUNDQUIST, JR.,
Defendant-Counter Claimant-Appellant.
Appeal from the United States District Court
For the Southern District of Texas
(C-94-CV-545)
November 6, 1996
Before JONES, DeMOSS, and PARKER, Circuit Judges.
PER CURIAM:*
On July 26, 1996, this Court stayed further consideration of
this appeal pending an order of the United States Bankruptcy Court
*
Pursuant to Local Rule 47.5, the Court has determined that this
opinion should not be published and is not precedent except under
the limited circumstances set forth in Local Rule 47.5.4.
for the Southern District of Texas lifting the automatic stay of
that court in the Chapter 11 bankruptcy proceeding No. 96-22457-C-
11 filed by appellant Wayne A. Lundquist, Jr. Such automatic stay
has now been lifted by the bankruptcy court and we proceed with
consideration of this appeal.
Premier Financial Services - Texas L.P. (“Premier”) sued Wayne
A. Lundquist, Jr. (“Lundquist”) and others on a written guaranty
agreement executed by Lundquist, guaranteeing the payment of a
promissory note dated October 24, 1983, executed by Nueces
Development Company payable to Victoria Savings Association in the
original principal sum of $793,000 one year after date. The
maturity date of this note was ultimately extended by various
renewal and extension agreements until September 19, 1987. The
Resolution Trust Corporation (“RTC”) was appointed conservator of
Victoria Savings Association on June 29, 1989. In December 1990,
after making demand on the maker and Lundquist for payment of this
note, the RTC proceeded to foreclose upon the secured property and
sold the secured property at public auction for the sum of
$161,028, which was credited against the note. In January 1994,
the RTC as receiver for Victoria Savings Association FSA.
transferred the note and guaranty, along with all right, title and
interest therein, to Premier. On December 16, 1994, Premier
brought this suit upon his guaranty against Lundquist seeking to
recover the remaining amounts due and owing on the note. In
September 1995, Premier moved for a summary judgment on its claims
2
against defendant Lundquist and on Lundquist’s counterclaim against
Premier. On December 6, 1995, the district court granted Premier’s
motion for a summary judgment and by a corrected final judgment
entered under date of December 29, 1995, granted recovery in the
amount of $606,345.08 against Lundquist.
We have carefully reviewed the briefs, the record excerpts and
relevant portions of the record itself; and for the reasons stated
by the district court in its order granting motion for summary
judgment entered under date of December 6, 1995, we affirm the
final judgment entered under date of December 29, 1995.
AFFIRMED.
3