Commerce Bank of Lebanon v. Halladale A Corp.

FLANIGAN, Judge.

Defendants appeal from a judgment setting aside certain transfers, including an assignment of shares of stock and a deed. The trial court found that the transfers were fraudulent as to plaintiff Commerce Bank of Lebanon, (“the bank”), as a creditor of Harold M. Mahan, (“Harold”), and Frieda O. Mahan, (“Frieda”), his wife.

In 1974 the bank made loans to Harold evidenced by four notes which were covered by a continuing written guaranty signed by Frieda. The transfers, held to be fraudulent, were made by Harold and Frieda to defendants on August 15, 1975, or within a month of that…