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SCHMIDT v. FARM CREDIT SERVICES

No. 90-3199.

977 F.2d 511 (1992)

Frank S. SCHMIDT, Plaintiff-Appellant, v. FARM CREDIT SERVICES, formerly d/b/a Federal Land Bank of Wichita; and Schmidt C & R Co., Inc., Defendants-Appellees.

United States Court of Appeals, Tenth Circuit.

October 13, 1992.

Attorney(s) appearing for the Case

Kent E. Oleen of Vogel & Oleen, Manhattan, Kan., for plaintiff-appellant.

B. Keith Kocher of Shaw, Hergenreter, Quarnstrom & Kocher, Topeka, Kan., for defendants-appellees.

Before SETH and HOLLOWAY, Circuit Judges, and DUMBAULD, District Judge.

HOLLOWAY, Circuit Judge.

This appeal arises from a shareholder derivative suit instituted by the appellant Frank Schmidt against Schmidt C & R Co., Inc. (the Corporation) and Farm Credit Services (Farm Credit). Frank Schmidt claims that his nephew John Schmidt, the president of the Corporation, fraudulently gave himself authority to mortgage corporate property and receive the proceeds in the Corporation's name from Farm...

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