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IN RE SOUTHERN INDUS. BANKING CORP.

Bankruptcy No. 3-83-00372, Adv. No. 3-83-0885.

63 B.R. 331 (1986)

In re SOUTHERN INDUSTRIAL BANKING CORPORATION d/b/a Daveco, Debtor. Clive VALENTINE and wife, Barbara Gayle Valentine, Plaintiffs, v. BANK OF COMMERCE; First Tennessee Bank National Association; and Thomas E. DuVoisin, Liquidating Trustee, Defendants.

United States Bankruptcy Court, E.D. Tennessee.

July 10, 1986.

Attorney(s) appearing for the Case

William B. Felknor, J. Bradley Allison, Maryville, Tenn., for plaintiffs.

Dearborn & Ewing, James R. Kelley, Nashville, Tenn., for defendants Bank of Commerce and DuVoisin.

Heiskell, Donelson, Bearman, Adams, Williams & Kirsch, Craig J. Donaldson, William S. Lockett, Knoxville, Tenn., for defendant First Tennessee Bank, N.A.

MEMORANDUM

CLIVE W. BARE, Bankruptcy Judge.

Plaintiffs seek to reverse a prepetition transfer of their promissory note by Southern Industrial Banking Corporation (SIBC) to First Tennessee Bank (FTB). Plaintiffs contend the transfer was part of a fraudulent scheme designed to defeat their setoff rights, 11 U.S.C.A. § 553 (West 1979), and that FTB knew or should have known that the transfer involved fraud. Defendant Bank of Commerce, successor in interest...

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