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SEABOARD FINANCE COMPANY v. MUTUAL BANKERS CORPORATION

No. 25938.

401 F.2d 178 (1968)

SEABOARD FINANCE COMPANY, Appellant, v. MUTUAL BANKERS CORPORATION et al., Appellees.

United States Court of Appeals Fifth Circuit.

September 27, 1968.

Attorney(s) appearing for the Case

William A. Gillen, Marvin E. Barkin, David A. Maney, Fowler, White, Collins, Gillen, Humkey & Trenam, Tampa, Fla., for appellant.

Edward I. Cutler, Carlton, Fields, Ward, Emmanuel, Smith & Cutler, Tampa, Fla., for appellees.

Before TUTTLE, COLEMAN, and MORGAN, Circuit Judges.

PER CURIAM:

Both Seaboard Finance Company and Union Finance Corporation were engaged in the small loan business. After extensive and detailed negotiations Seaboard acquired Union stock owned by the appellees in exchange for certain stock of Seaboard. It later developed that refunds of unearned credit insurance premiums on outstanding Union Finance loans far exceeded that anticipated by Seaboard when it made the trade. It then filed a statutory action against the appellees...

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