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IN RE PROPERTY LEASING & MANAGEMENT, INC.

Bankruptcy No. 3-82-01397, Adv. No. 3-82-1025.

50 B.R. 804 (1985)

In re PROPERTY LEASING & MANAGEMENT, INC., Debtor. Douglas WICKHAM, Trustee, Plaintiff, v. UNITED AMERICAN BANK, First Tennessee Bank, Knoxville, Tennessee, and The Federal Deposit Insurance Corporation, Defendants, and United American Bank of Memphis (formerly Central Trade Bank of Memphis and United American Bank in Memphis), Intervening Defendant. FIRST TENNESSEE BANK, Knoxville, Tennessee, Counterclaimant, v. Douglas WICKHAM, Trustee, Counterdefendant. UNITED AMERICAN BANK OF MEMPHIS (formerly Central Trade Bank of Memphis and United American Bank of Memphis), Counterclaimant, v. Douglas WICKHAM, Trustee, Counterdefendant. UNITED AMERICAN BANK OF MEMPHIS (formerly Central Trade Bank of Memphis and United American Bank of Memphis), Cross-claimant, v. FIRST TENNESSEE BANK, Knoxville, Tennessee, and The Federal Deposit Insurance Corporation, Cross-defendants.

United States Bankruptcy Court, E.D. Tennessee.

May 23, 1985.

Attorney(s) appearing for the Case

Bass, Berry & Sims, L. Wearen Hughes, Wallace W. Dietz, Nashville, Tenn., for plaintiff-trustee.

Bernstein, Susano, Stair & Cohen, Doris C. Allen, Knoxville, Tenn., for First Tennessee Bank, Knoxville, Tenn.

Morton, Lewis, King & Krieg, Deborah C. Stevens, Knoxville, Tenn., for Federal Deposit Ins. Corp.

Baker, Worthington, Crossley, Stansberry & Woolf, James E. Drinnon, Knoxville, Tenn., for United American Bank of Memphis.

MEMORANDUM UPON PLAINTIFF'S MOTION TO ALTER OR AMEND JUDGMENT

CLIVE W. BARE, Bankruptcy Judge.

At issue is whether under certain property management agreements the debtor was a trustee or simply a debtor with respect to funds collected on behalf of property owners who entered into the agreements with the debtor.

I

On March 7, 1985, this court entered a final judgment in this action to avoid preferential transfers under 11 U.S.C.A. §...

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