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IN RE SOUTHERN INDUS. BANKING CORP.

Bankruptcy No. 3-83-00372, Adv. No. 3-83-0880.

45 B.R. 651 (1985)

In re SOUTHERN INDUSTRIAL BANKING CORPORATION, d/b/a Daveco, Debtor. DILLON OIL TECHNOLOGY PARTNERS, Plaintiff and Counter-Defendant, v. BANK OF COMMERCE, Defendant and Counterclaimant.

United States Bankruptcy Court, E.D. Tennessee.

January 10, 1985.

Attorney(s) appearing for the Case

Somers & Altenbach, A.O. Bracey, III, Atlanta, Ga., Arnett, Draper & Hagood, Jack B. Draper, Knoxville, Tenn., for plaintiff and counter-defendant.

Frantz, McConnell & Seymour, E. Bruce Foster, Jr., Robert L. Kahn, Knoxville, Tenn., for defendant and counterclaimant.

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

This case involves a question of the plaintiff's rights under a prepetition agreement whereby plaintiff purchased installment loans from the debtor in exchange for a substantial sum of cash. Plaintiff seeks either rescission of the purchase agreement or a declaration of its rights and an award of damages. Contending the consideration plaintiff paid for the loans purchased is inadequate, defendant asserts a counterclaim...

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