First Bank v. Miller

This is an appeal from a money judgment rendered against plaintiff. The judgment was the result of litigation which began as an action for claim and delivery under GCR 1963, 757.

Defendant borrowed substantial sums from plaintiff, a state-chartered bank. The loans were secured by equipment used in defendant’s business. Defendant defaulted on the loans. At about the same time, he filed a petition for bankruptcy. The trustee in bankruptcy was authorized to abandon the interest of the bankrupt’s estate in the collateral securing plaintiffs loans, based on a decision that the estate’s interest had…