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JOHNSON v. FIRST NAT. BANK

Bankruptcy No. 87-9059.

81 B.R. 87 (1987)

John C. JOHNSON & Barbara L. Johnson, Plaintiffs, v. FIRST NATIONAL BANK, Defendant.

United States Bankruptcy Court, N.D. Florida, Panama City Division.

December 4, 1987.

Attorney(s) appearing for the Case

C. Edwin Rude, Jr., Tallahassee, Fla., for plaintiffs.

Jerry W. Gerde, Panama City, Fla., for defendant.

MEMORANDUM OF OPINION

LEWIS M. KILLIAN, Jr., Bankruptcy Judge.

Plaintiffs, John C. and Barbara L. Johnson, as debtors-in-possession in this case under Chapter 11 of the Bankruptcy Code filed this action to avoid as a fraudulent transfer under Title 11 U.S.C. § 548 a mortgage given to defendant, First National Bank, to secure a loan to B & J Enterprises, Inc., a corporation owned solely by plaintiffs. Both sides have filed cross motions for summary...

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