VanDeventer v. Michigan National Bank

Bradford S. VanDeventer brought an action against Michigan National Bank (mnb) seeking to enjoin mnb from cashing his annuity. He previously assigned the annuity to mnb as security for a line of credit which mnb extended to R&R Telecom, Inc. (r&r). The lower court granted VanDeventer’s request for a preliminary injunction prohibiting mnb from cashing his annuity until his liability to mnb was determined. The court later permanently enjoined mnb from cashing the annuity. Mnb appeals as of right.

Mnb brought an action to collect damages from r&r, VanDeventer and David R. Layton based on a final…