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COLEMAN'S SERV. CTR., INC. v. SOUTHERN INNS MGT., INC.

No. CA 92-998.

866 S.W.2d 427 (1993)

44 Ark.App. 45

COLEMAN'S SERVICE CENTER, INC., Appellant, v. SOUTHERN INNS MANAGEMENT, INC.; and Federal Deposit Insurance Corporation, as Receiver for Audubon Federal Savings & Loan Association of New Orleans, Louisiana, Appellees.

Court of Appeals of Arkansas, En Banc.

November 24, 1993.

Attorney(s) appearing for the Case

Robert J. Donovan, Marianna, for appellant.

James H. Penick, III, Little Rock, for appellees.

JENNINGS, Chief Judge.

In 1984 D'Jer, Inc., an Arkansas corporation, borrowed 4.2 million dollars from Audubon Federal Savings and Loan Association, a Louisiana institution, to build a truck stop at Brinkley, Arkansas. The note was secured by a deed of trust. D'Jer leased the "convenience store" part of the project to the appellant, Coleman's Service Center, Inc., also an Arkansas corporation. D'Jer defaulted on the note, the project was refinanced, and the real property...

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