IN RE HEIN

Adv. No. C82-1029-P11, Related Case No. 81-00829-P11.

60 B.R. 769 (1986)

In re John Franklin HEIN and Brenda Marilyn Hein, Debtors. John Franklin HEIN and Brenda Marilyn Hein, Plaintiffs, v. James R. BOBBITT, Trustee for American Electric Contracting Corp. Pension Trust Defined Benefit and Money Purchase Pension Plan, Defendant.

United States Bankruptcy Court, S.D. California.

May 16, 1986.


Attorney(s) appearing for the Case

N. James Richardson, Karp & Richardson, San Diego, Cal., for plaintiffs.

Joe N. Turner, Higgs, Fletcher and Mack, San Diego, Cal., for defendant.


MEMORANDUM OPINION

JOHN J. HARGROVE, Bankruptcy Judge.

I.

INTRODUCTION

At issue is an action for declaratory relief initiated by the debtors regarding the rights of the parties under a loan contract. Specifically, the debtors request this court to declare that the 20% interest rate charged under the note violated the usury provisions of the California Constitution and Civil Code and that a $500 a day late charge in the note constituted...

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