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BICE CONST. CO. v. CIT CORP. OF THE SOUTH, INC.

Civ. A. No. LR-C-80-585, Bankruptcy No. LR-80-259.

27 B.R. 543 (1982)

BICE CONSTRUCTION COMPANY, INC., Appellant, v. CIT CORPORATION OF THE SOUTH, INC., Appellee.

United States District Court, E.D. Arkansas, W.D.

April 8, 1982.

Attorney(s) appearing for the Case

James M. Hollis, Charles Darwin Davidson, P.A., Little Rock, Ark., for appellant.

David M. Powell, Wright, Lindsey & Jennings, Little Rock, Ark., for appellee.

ORDER

EISELE, Chief Judge.

This is an appeal from a judgment of the Bankruptcy Court rendered on December 2, 1980. The sole issue before this Court is whether or not the Bankruptcy Court was correct in dismissing the counterclaim of the appellant, Bice Construction Company, Inc., alleging usury under Arkansas law. For the reasons set forth below, the judgment of the Bankruptcy Court is affirmed.

The litigation arose from a direct loan security agreement...

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