First Georgia Bank v. FNB South (In Re Moody)

MEMORANDUM OPINION

JAMES D. WALKER, Jr., Bankruptcy Judge.

This matter comes before the Court on Complaint filed by First Georgia Bank (“Plaintiff’) against FNB South and Jimmy J. Boatwright (“Defendants”). The Court held an emergency hearing on March 29, 2001. After considering the pleadings, evidence and applicable authorities, the Court enters the following findings of fact and conclusions of law in compliance with Federal Rule of Bankruptcy Procedure 7052.

Findings of Fact

Debtor incurred a debt of over $515,000 by executing five promissory notes to Defendant FNB South. Three tracts of land…