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NORTHWESTERN NAT. BANK, ETC. v. SHUSTER

No. 51648.

307 N.W.2d 767 (1981)

NORTHWESTERN NATIONAL BANK OF MINNEAPOLIS, Appellant, v. Joseph M. SHUSTER, Respondent.

Supreme Court of Minnesota.

Rehearing Denied September 4, 1981.

Attorney(s) appearing for the Case

Faegre & Benson, James B. Loken, Brian B. O'Neill and Shelley A. Fitzmaurice, Minneapolis, for appellant.

Maun, Green, Hayes, Simon, Murray & Johanneson and Richard D. Donohoo, St. Paul, for respondent.

Heard, considered and decided by the court en banc.

WAHL, Justice.

This case involves two notes made by respondent Shuster and given to the McGlynn-Garmaker Company (M-G Co.) as Shuster's alleged capital contributions to the Casper Development Company. The notes were used by M-G Co. as collateral to secure loans from appellant bank for operating capital for the Casper apartment development project and other M-G Co. projects. When M-G Co. went into bankruptcy the bank sued for collection on the notes as a holder and...

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