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

No. 82-1540.

700 F.2d 465 (1983)

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

United States Court of Appeals, Eighth Circuit.

Decided February 25, 1983.

Attorney(s) appearing for the Case

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

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

Before ROSS and FAGG, Circuit Judges, and BEAM, District Judge.

PER CURIAM.

In 1979 defendant-appellant, Bice Construction Company, an Arkansas corporation, contracted with plaintiff-appellee, CIT Corporation, a Georgia corporation, for a loan to purchase equipment for its business. CIT obtained and perfected a security interest in that equipment. When Bice filed a bankruptcy petition under Chapter 11 of the Bankruptcy Code in 1980, CIT requested a modified stay and sought to foreclose its security interest. Bice counterclaimed...

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