UNITED STATES v. FIRST NATIONAL BANK OF MEMPHIS

No. 71-1699.

458 F.2d 560 (1972)

UNITED STATES of America, Plaintiff-Appellee, v. The FIRST NATIONAL BANK OF MEMPHIS, Defendant-Appellant.

United States Court of Appeals, Sixth Circuit.

April 17, 1972.


Attorney(s) appearing for the Case

Ernest Williams, III, Memphis, Tenn., on brief for defendant-appellant; Heiskell, Donelson, Adams, Williams & Wall, Memphis, Tenn., of counsel.

James H. Bozarth, Atty., Tax Div., Dept. of Justice, Washington, D. C., for plaintiff-appellee; Fred B. Ugast, Acting Asst. Atty. Gen., Meyer Rothwacks, Crombie J. D. Garrett, Attys., Tax Div., Dept. of Justice, Washington, D. C., on brief; Thomas F. Turley, Jr., U. S. Atty., William A. McTighe, Jr., Asst. U. S. Atty., Memphis, Tenn., of counsel.

Before PHILLIPS, Chief Judge, and McCREE and MILLER, Circuit Judges.


PHILLIPS, Chief Judge.

This is an appeal by the First National Bank of Memphis from a judgment enforcing a federal tax lien. We affirm.

The relevant facts are not in dispute. In 1962, Thomas W. Shipp borrowed $10,000 from the Bank, securing the loan by a pledge of certain insurance policies on his life. In February 1963, involuntary bankruptcy proceedings were instituted against Shipp. Under authority of an order of the Referee in Bankruptcy the bank cashed...

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