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NEWMAN v. FIRST SEC. BANK OF BOZEMAN

No. 88-3885.

887 F.2d 973 (1989)

Glen D. NEWMAN, Mary Lynn Newman, Plaintiffs-Appellants, v. FIRST SECURITY BANK OF BOZEMAN, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided October 20, 1989.

Attorney(s) appearing for the Case

Eula Compton, Bozeman, Mont., for plaintiffs-appellants.

Douglas D. Harris, Lineberger & Harris, P.C., and Edmund P. Sedivy, Jr., Morrow, Sedivy & Bennett, P.C., Bozeman, Mont., for defendant-appellee.

Before WRIGHT, WALLACE and THOMPSON, Circuit Judges.

DAVID R. THOMPSON, Circuit Judge:

Glen D. Newman and Mary Lynn Newman borrowed money from First Security Bank of Bozeman to buy a grocery store. To secure repayment of the loan, they granted the Bank a security interest in the store's assets and gave the Bank a mortgage on their home. The grocery business failed and the Newmans filed for protection under Chapter 7 of the Bankruptcy Act. They scheduled the Bank as a secured creditor, but asserted that the Bank's security...

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