Bankr. L. Rep. P 71,239 in Re G. Dwayne Casbeer, Debtor. G. Dwayne Casbeer v. State Federal Savings & Loan Association of Lubbock

GEE, Circuit Judge:

G. Dwayne Casbeer appeals from a district court order affirming a bankruptcy court judgment in favor of State Savings & Loan Association of Lubbock. We affirm in part, reverse in part, and remand.

FACTS AND LOWER COURT PROCEEDINGS

During the early 1980’s, G. Dwayne Cas-beer (“Casbeer”) was a real estate developer, owning various properties in Texas. State Savings & Loan Association of Lubbock (“State Savings”) held promissory notes aggregating more than $16 million secured by some of these properties. By mid-March 1984, Casbeer was in arrears on payments due State Savings on…