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HERRING MIN. v. ROBERTS BROS. COAL CO.

No. 87-CA-103-MR.

747 S.W.2d 616 (1988)

HERRING MINING COMPANY and Mike Herring, Individually and as Sole Stockholder of Herring Mining Company, Appellants, v. ROBERTS BROTHERS COAL COMPANY, INC. and Kirkwood Excavating, Inc., Appellees.

Court of Appeals of Kentucky.

Rehearing Denied April 8, 1988.

Attorney(s) appearing for the Case

Daniel N. Thomas, Thomas and Ison, P.S.C., Hopkinsville, for appellants.

L. Rushing Hunt, III, Donan & Hunt, Madisonville, for appellees.

Before HOWERTON, C.J., and COMBS and McDONALD, JJ.

McDONALD, Judge:

In the summer of 1980 the appellant, Herring Mining Company, and its sole owner, Mike Herring, borrowed the sum of $20,000 from the appellee, Roberts Brothers Coal Company, Inc. To secure the repayment of the debt, Herring gave Roberts Brothers a security interest in three pieces of equipment, a bulldozer, a scraper and a 25-ton lowboy trailer. By November, 1980, Herring was in default on the note and,...

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