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IN RE POWELL

Bankruptcy No. 5-86-02183, Adv. No. 87-5069.

88 B.R. 114 (1988)

In re Carroll Byron POWELL and Phyllis Roberta Powell, Debtors. FIRST CITY BANK-CENTRAL PARK, Plaintiff, v. Carroll Byron POWELL and Phyllis Roberta Powell, Defendants.

United States Bankruptcy Court, W.D. Texas, San Antonio Division.

June 30, 1988.

Attorney(s) appearing for the Case

Kathryn D. Burgchardt, Law Offices of H. Jack Pytel, Jr. and Associates, P.C., San Antonio, Tex., for defendants.

Thomas S. Harmon, Douglas & Elms, Inc., San Antonio, Tex., for plaintiff.

Randolph N. Osherow, San Antonio, Tex., trustee.

MEMORANDUM OPINION AND ORDER

LEIF M. CLARK, Bankruptcy Judge.

Carroll Byron Powell was in the jewelry business. He owned 90% of two companies, Fine Jewelry and Fine Diamond. On December 16, 1986, both he and his companies filed bankruptcy under Chapter 7.

Powell and his companies had been long-time customers of Central Park Bank and had a credit line secured by inventory, equipment, and receivables. This bank was acquired by First City Bancorporation...

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