Legal Opinion

In Re Southern Industrial Banking Corporation, Debtor. Thomas Duvoisin, Liquidating Trustee, and Bank of Commerce, Intervening v. Emmett J. Foster

Court of Appeals for the Sixth Circuit

Decided January 22, 1987No. 85-6130PublishedCited by 145 opinions

1Opinion of the Court

JOHN W. PECK, Senior Circuit Judge.

On March 22, 1982 defendant-appellant Emmett J. Foster paid $400,000 to Southern Industrial Banking Corporation (SIBC) for four investment Certificate Securities (Certificates). These Certificates were scheduled to mature on March 22, 1983, with accrued interest of $66,000. On February 4, 1983 Foster took out a $470,000 loan from SIBC, executing a promissory note (Note) to SIBC for $480,956.02 (principal plus interest and service charges), with the Certificates held as collateral. The Note was scheduled to be due on March 22, 1983, the same date that the…

2Cases cited12 opinions

  1. United States of America on Behalf of Its Agency Internal Revenue Service v. William H. Norton, Carrie W. Norton, F/k/a Carrie A. WoodwardCourt of Appeals for the Third Circuit · 1983
  2. Kelley v. NodineCourt of Appeals for the Sixth Circuit · 1986
  3. Lombard-Wall Inc. v. New York City Housing Development Corp. (In Re Lombard-Wall Inc.)District Court, S.D. New York · 1985
  4. Knoxville Teachers Credit Union v. Sylvia Rochelle ParkeyCourt of Appeals for the Sixth Circuit · 1986
  5. In Re DaviesUnited States Bankruptcy Court, E.D. New York · 1983

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3Cited by145 opinions

  1. In Re G.S.F. CORPORATION, Debtor, Chase Commercial Corporation, AppellantCourt of Appeals for the First Circuit · 1991
  2. In Re Robert D. Johnson, Debtor. Canal Corporation, General Partner of the Limited Partnership of the October 18, 1973 Group the October 30, 1973 Group the November 30, 1973 Group the November 15, 1973 Group the December 10, 1973 Group the December 11, 1973 Group the December 14, 1973 Group the January 7, No. 91-1403 1974 Group the January 11, 1974 Group the January 31, 1974 Group Resource Evaluation & Development, Incorporated, General Partner of the Limited Partnership of the February 8, 1974 Group the February 15, 1974 Group the March 5, 1974 Group the March 11, 1974 Group the March 29, 1974 Group the April 14, 1974 Group the April 5, 1974 Group v. Robert E. Finnman Gerald L. Sacks Leonard Henschel Mrs. Leonard Henschel Carl Starnes Mrs. Carl Starnes Robert W. Froehlich Alan B. Svedlow Thomas W. Gilliam, Jr. Ruth Swart Young Frederick M. Sorrell, Jr. Richard B. Hudson Mrs. Richard B. Hudson William A. Gore Mrs. William A. Gore, and Lenora Johnson Brown Vail Pischke v. Bruce Goldstein, TrusteeCourt of Appeals for the Fourth Circuit · 1992
  3. In Re Cascade Roads, Inc., Debtor. United States of America v. Peter H. Arkison, TrusteeCourt of Appeals for the Ninth Circuit · 1994
  4. In the Matter Of: Constance Luongo, Debtor. Internal Revenue Service v. Constance LuongoCourt of Appeals for the Fifth Circuit · 2001
  5. Bankr. L. Rep. P 72,126 in Re Men's Sportswear, Inc., F/k/a Claude Clement, Ltd., Debtor. Men's Sportswear, Inc. v. Sasson Jeans, Inc.Court of Appeals for the Second Circuit · 1987

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