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AETNA LIFE INS. CO. v. GREAT NAT. CORP.

No. 86-2162.

818 F.2d 19 (1987)

AETNA LIFE INSURANCE COMPANY and Aetna Casualty and Surety Company, Appellees, v. GREAT NATIONAL CORPORATION, a Delaware corporation, the name of which has been changed to GNC Energy Corporation; Great National Corporation; Great National Coal of Texas, Inc., a Texas Corporation; Great National Corporation; a Nevada corporation; Great National Royalty Corporation, a Texas corporation, Appellants, United States of America; Southwestern Electric Power Company; Hale Oil Company, Inc.; and Dupree Distributing Co., Inc.

United States Court of Appeals, Eighth Circuit.

Decided May 6, 1987.

Attorney(s) appearing for the Case

Jerry L. Canfield, Fort Smith, Ark., for appellants.

M. Gayle Corley, Little Rock, Ark., for appellees.

Before JOHN R. GIBSON, Circuit Judge, and FLOYD R. GIBSON and HENLEY, Senior Circuit Judges.

PER CURIAM.

Great National Corporation (now GNC Energy Corporation entered into a loan agreement with Aetna Life Insurance Company and Aetna Casualty and Surety Company (Aetna). Great National defaulted on the loan and Aetna commenced this action to recover the principal, accrued interest and attorney's fees. Great National interposed a defense that the loan was usurious under Arkansas law. Aetna moved for partial summary judgment as to the usury defense claiming...

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