VALE v. GARY NATIONAL BANK

No. 16862.

406 F.2d 39 (1969)

Milo F. VALE, as Trustee in Bankruptcy of Ridge Road Investment Corporation, Bankrupt, Plaintiff-Appellant, v. GARY NATIONAL BANK, Defendant-Appellee.

United States Court of Appeals Seventh Circuit.

February 5, 1969.


Attorney(s) appearing for the Case

Gilbert Gruenberg, Gary, Ind., for plaintiff-appellant.

Fred M. Cuppy, Gary, Ind., for defendant-appellee.

Before KNOCH, Senior Circuit Judge, and KILEY and FAIRCHILD, Circuit Judges.


KILEY, Circuit Judge.

Plaintiff, Trustee in Bankruptcy, appeals from a judgment of the district court dismissing his suit to set aside a mortgage transaction as void under Indiana law, and to recover from the mortgagee Bank, for the bankrupt estate, payments of $127,529.80 on the mortgage. We reverse.

The bankrupt corporation, on May 27, 1962, executed and delivered to the Bank a 90-day renewal note for $110,000 covering an existing loan. On August 24, 1962...

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