Palmer v. First Nat'l Bank of Kingman

Meyer, J.:

Defendant-appellant, First National Bank of King-man, Kansas, (Bank) appeals from a decision by the trial court in favor of plaintiffs-appellees Bud Palmer and Carl McCoy (Palmer and McCoy). The decision required the Bank to reimburse Palmer and McCoy for personal property taxes paid by them after they purchased the inventory of a bankrupt furniture business, Kingman Furniture Inc., (KFI) from the Bank.

KFI filed a voluntary petition for bankruptcy under Chapter 7 of the Bankruptcy Reform Act on October Í7, 1980. The First National Bank of Kingman, in concert with the Small Business…