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PALMETTO FED. SAVINGS AND LOAN ASSN. v. MULLEN

21304

275 S.C. 317 (1980)

270 S.E.2d 439

PALMETTO FEDERAL SAVINGS AND LOAN ASSOCIATION OF AIKEN, Plaintiff-Respondent, v. Henry S. MULLEN, Deanna Plat Mullen, Emanuel N. Agostas, John T. Persall, Jr., United States of America, Continental Can Co., Inc., First Union National Bank, Citizens and Southern National Bank, Umbaugh Builders, Inc., C. LaVaun Fox, Albert Cato, The Diners Club, Inc., Southern Adjustment Bureau, Gulf Oil Corporation, Hannes Anthony and South Carolina Tax Commission, Defendants, of whom all are Respondents except the defendant, John T. Persall, Jr., who is, Defendant-Appellant.

Supreme Court of South Carolina.

September 16, 1980.

Attorney(s) appearing for the Case

John T. Bodenheimer, of Bodenheimer, Busbee & Hickey, of Aiken, and Richard E. Miley, of Nixon, Yow, Waller & Capers, Augusta, Ga., for defendant-appellant.

Douglas S. Garvin, of Garvin, Fox, Zier & Burkhalter, Arthur D. Rich, of Lybrand, Rich, Cain & Simons, Gasper L. Toole, III, of Toole & Toole, Aiken, for plaintiff-respondent.

Southern Adjustment Bureau, pro se.

Neal W. Dickert, of Hull, Towill, Norman, Barrett & Johnson, and Christopher G. Nicholson, Augusta, Ga., Asst. Atty. Gen. G. Lewis Argoe, Jr., and Asst. U.S. Atty. Eugene L. Stone, Columbia, Hugh Beasley, of Beasley & Beasley, Greenwood, John F. Bradford, Atlanta, Ga., Charles W. Coleman, of Coleman & Sawyer, Edgefield, Clyde O. Ackerman, of Ackerman, Woodard & Campbell, Walterboro, and Philip Wittenberg, of Levi & Wittenberg, Sumter, for defendants.

September 16, 1980.

LEWIS, Chief Justice:

The issues in this appeal involve a dispute between junior competing mortgage holders to a limited fund remaining after the foreclosure sale of real estate. Entitlement to the remaining funds turns largely upon the availability of a defense of usury. The real estate was sold as a result of an action brought to foreclose a first mortgage given by respondents Henry S. and Deanna Platt Mullen, in which various subsequent...

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