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ETTER v. INDUSTRIAL VAL. BK. & TRUST CO.

356 Pa.Super. 502 (1986)

515 A.2d 6

Louis ETTER and the Estate of Sidney Goldberg, t/a Goldberg Bros. Co., Appellant, v. INDUSTRIAL VALLEY BANK AND TRUST COMPANY and the Pollock Corporation.

Supreme Court of Pennsylvania.

Filed September 9, 1986.

Attorney(s) appearing for the Case

Paul Shalita, Philadelphia, for appellant.

Alan Gershenson, Philadelphia, for appellee.

Before WIEAND, BECK and JOHNSON, JJ.

BECK, Judge:

Phoenixville Recycling Corporation (Recycling) purchased the scrap metal business of appellant, Louis Etter and the Estate of Sidney Goldberg, t/a Goldberg Brothers Company (Goldberg) for $550,000. The purchase was financed in part by a $450,000 loan from Industrial Valley Bank and Trust Company (IVB) to Recycling secured by (i) a mortgage on the land being purchased from Goldberg, (ii) a security interest in the machinery and equipment purchased from...

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