[U] Federal Deposit Insurance Corp. V. Olsen

The Resolution Trust Corporation (RTC),*fn3 as receiver for Western Savings and Loan Association, F.A. brought this against Wallace and Katherine Olsen (collectively "Olsens"), alleging liability under a Guarantee the Olsens signed in connection with a condominium project in Phoenix, Arizona. The Olsens later filed a counterclaim against the RTC for breach of contract. By Order of October 9, 1992, the district court dismissed the Olsens counterclaim*fn4; by Order of June 29, 1994, the court granted summary judgment in favor of the RTC on the main claim. For the reasons which follow, we affirm the orders of the district court dismissing the counterclaim and entering judgment in favor of the FDIC.*fn5