Legal Opinion
Pan American Bank of Los Angeles v. Mallas Enterprises, Inc. (In Re Mallas Enterprises, Inc.)
United States Bankruptcy Appellate Panel for the Ninth Circuit
Decided April 12, 1984No. BAP No. CC-82-1493-VAbG, Bankruptcy No. LA-82-01762-JB, Adv. No. LA-82-2033-JBPublishedCited by 4 opinions
1Opinion of the Court
OPINION
VOLINN, Bankruptcy Judge.
I. BACKGROUND
On August 13, 1979, the appellant, Pan American Bank of Los Angeles, loaned $91,-000 to Nick and Clara Mallas who agreed to pay interest thereon at 13.5% on a monthly basis, and then pay the principal amount in full on August 12, 1980. The loan was secured by a deed of trust and assignment of rents on commercial property in La Puente, California, owned by the borrowers.
In March, 1981, Nick and Clara Mallas organized and became principals of the ap-pellee, Mallas Enterprises, Inc. The corporation collected rent from tenants on the commercial…
2Cases cited5 opinions
- Heritage Savings & Loan Ass'n v. Rogers Development Corp. (In Re Rogers Development Corp.)United States Bankruptcy Court, E.D. Virginia · 1980
- Dahnken's of Santa Barbara, Inc. v. Marsh Industries (In Re Dahnken's of Santa Barbara, Inc.)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1981
- Wachovia Bank & Trust Co. v. DameronCourt of Appeals for the Fourth Circuit · 1969
- Del Rio Development Inc. v. First Liberty Financial, Inc. (In Re Del Rio Development Inc.)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1983
- Daniels v. Certified Mortgage Corp. (In Re Certified Mortgage Corp.)United States Bankruptcy Court, M.D. Florida · 1982
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