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FEDERAL DEPOSIT INS. CORP. v. VOGEL

No. 76-C-574.

437 F.Supp. 660 (1977)

FEDERAL DEPOSIT INSURANCE CORPORATION, a United States Corporation, Plaintiff, v. Richard P. VOGEL and Russell W. Spitz, Defendants.

United States District Court, E. D. Wisconsin.

September 23, 1977.

Attorney(s) appearing for the Case

Gregory G. Wille, Gibbs, Roper, Loots & Williams, Milwaukee, Wis., for plaintiff.

Richard J. Rakita, Rakita & Rakita, Milwaukee, Wis., for Vogel.

David A. Saichek, Gaines & Saichek, Milwaukee, Wis., for Spitz.

MEMORANDUM AND ORDER

WARREN, District Judge.

This action is before the Court on the plaintiff's motion for summary judgment on its complaint against Richard P. Vogel and Russell W. Spitz as well as the counterclaim asserted against it by Russell W. Spitz. The pleadings in this case reveal a rather complicated set of facts.

In 1973, the American City Bank made a loan to Germantown Development Company, Inc. (Germantown), for the purpose of acquiring...

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