From our private database of 35,400+ case briefs...
C&C Investment Properties, LLC v. Trustmark National Bank
United States Court of Appeals for the Fifth Circuit
838 F.3d 655 (2016)
Glen Collins (plaintiff) and his wife, Charlotte, formed C&C Investment Properties, LLC (plaintiff) to buy, rent, and flip real estate. C&C bought foreclosed properties from Heritage Banking Group (defendant) and financed the purchases through promissory notes secured by deeds of trust and personally guaranteed by the Collinses. Under an alleged side agreement with Heritage, C&C would pay Heritage the amount that Heritage paid for the properties at foreclosure, and Heritage would later refinance the properties to reflect their postrenovation value. C&C eventually stopped paying Heritage because C&C claimed that Heritage was no longer complying with the side agreement. C&C defaulted on the notes and guaranties, and Heritage foreclosed on the properties. Glen Collins and C&C sued Heritage for breach of contract and fraudulent inducement. During the lawsuit, Heritage was declared insolvent, and the Federal Deposit Insurance Corporation (FDIC) (defendant) was appointed as receiver. The FDIC sold some of Heritage’s assets, including the C&C notes and guaranties, to Trustmark National Bank (defendant). Collins and C&C amended the complaint to add Trustmark as a defendant. Trustmark moved for summary judgment, asserting that C&C’s claims were barred by 12 U.S.C. § 1823(e) because the claims were based on an unwritten side agreement. C&C argued that there was a material factual dispute about whether the side agreement was in writing, because Heritage’s division president had testified that the side agreement was described in an email or some other written communication. The district court granted Trustmark’s motion, and C&C appealed.
Rule of Law
Holding and Reasoning (Costa, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 617,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 617,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 35,400 briefs, keyed to 984 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.