Federal Deposit Insurance Corp. v. Atlantic Group Inc‪.‬

This case arises from the FDICs action, as receiver for Balboa National Bank ("the Bank"), to recover on eight defaulted loans made by the Bank to Atlantic Group, Inc., ("Atlantic"). This appeal concerns only one of the eight loans, Loan No. C0683. Atlantic appeals from a partial grant of summary judgment in favor of the FDIC, holding that Loan No. C0683 was an unsecured loan and, therefore, that Atlantic was barred from asserting the affirmative defense under Cal. Com. Code § 9504(3) as a defense to payment on this note.