First National Bank v. Form Forge MacHinery, Inc.

Reece, Presiding Judge.

Appellant, Beckett Spreng, appeals the judgment of the court of common pleas granting Joseph Crabbe a stay of judgment and ordering Spreng to apply the proceeds from the disposition of certain collateral to discharge Crabbe’s debt. Appellee, Joseph Crabbe, cross-appeals the trial court’s decision denying his Civ.R. 60(B)(4) motion for relief from judgment. We reverse in part and affirm in part.

I

On December 8, 1992, Form-Forge Machinery, Inc. renewed a prior loan from First National Bank of Ohio in Akron. Form-Forge, William Hoppes, Joseph Crabbe, and Jim Spreng executed…