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MERCHANTS NAT. B. & T. CO. v. PROFESSIONAL MEN'S ASS'N, INC.

No. 26221.

409 F.2d 600 (1969)

MERCHANTS NATIONAL BANK AND TRUST COMPANY OF INDIANAPOLIS, Appellant, v. PROFESSIONAL MEN'S ASSOCIATION, INC., et al., Appellees.

United States Court of Appeals Fifth Circuit.

Rehearing Denied July 30, 1969.

Attorney(s) appearing for the Case

Charles P. Storey, Storey, Armstrong & Steger, Dallas, Tex., for appellant.

Lee Smith, Robert W. Smith, Blanchette, Smith & Shelton, Dallas, Tex., for appellees.

Before TUTTLE and GEWIN, Circuit Judges, and PITTMAN, District Judge.

PITTMAN, District Judge:

This suit was instituted by the Merchants National Bank & Trust Company of Indianapolis (Bank) to recover possession of collateral, or the value of it, under a security agreement claiming that a note from Indianapolis Professional Men's Association (IPMA) for $140,000 was due. Appellees, Professional Men's Association, Inc. (PMA), a Delaware corporation doing business in Texas, in possession of the collateral, and Thomas W. Butler, its...

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