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FREIDCO OF WILMINGTON, ETC. v. FARMERS BANK, ETC.

Civ. A. No. 76-149.

16 B.R. 835 (1981)

FREIDCO OF WILMINGTON, DELAWARE, LTD., a Texas limited partnership Debtor-In-Possession under Chapter XII of the Bankruptcy Act of the United States, and Unit, Inc., a Texas corporation, Debtor-In-Possession under Chapter XI of the Bankruptcy Act of the United States, Plaintiffs, v. The FARMERS BANK OF the STATE OF DELAWARE, Defendant.

United States District Court, D. Delaware.

November 12, 1981.

Attorney(s) appearing for the Case

Michael G. Kohn, Kohn & Helmer, Cincinnati, Ohio, for plaintiffs.

Max S. Bell, Jr., and Robert J. Katzenstein, of Richards, Layton & Finger, Wilmington, Del., for defendant Farmers.

Peter J. Walsh, of Murdoch & Walsh, Trustee, F. Alton Tybout, of Tybout, Redfearn, Casarino & Pell, Wilmington, Del., for trustee of Freidco.

Thomas G. Hughes, of O'Donnell & Hughes, Wilmington, Del., for FDIC.

OPINION NO. III

STAPLETON, District Judge:

Freidco of Wilmington, Ltd. ("FW") is a Texas partnership which, in April of 1974, consisted of Unit, Inc. ("Unit"), as general partner, and two Wilmington realtors, Robert Hickman and Harry Tingle, as limited partners. FW owned the Farmers Bank Building. On April 12, 1974, Unit committed itself to deposit all rental payments received on behalf of FW from tenants of the building to a designated checking account...

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