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FARMERS & MERCHANTS BANK v. GIBSON

Bankruptcy No. 80-9093.

7 B.R. 437 (1980)

FARMERS & MERCHANTS BANK, Plaintiff, v. Robert E. GIBSON, as Trustee, Defendant.

United States Bankruptcy Court, N.D. Florida, Tallahassee Division.

December 3, 1980.

Attorney(s) appearing for the Case

T. Buckingham Bird, Monticello, Fla., for plaintiff.

Robert E. Gibson, Tallahassee, Fla., trustee for Bill Peacock Chevrolet, Inc.

OPINION

N. SANDERS SAULS, Bankruptcy Judge.

Further proceedings in the trial of this cause hinge upon whether the doctrine of marshaling should be applied as contended by the defendant trustee.

Originally, the plaintiff bank loaned $150,000 to the corporate automobile dealership of which the defendant is now the trustee. In connection with this loan the corporation's promissory note was guaranteed by its president and principal stockholder, individually...

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