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IN RE SOUTHMARK CORP.

Bankruptcy No. 389-36324-SAF-11, Adv. No. 391-3480.

138 B.R. 831 (1992)

In re SOUTHMARK CORPORATION, Debtor. SOUTHMARK CORPORATION, Plaintiff, v. SOUTHMARK PERSONAL STORAGE, INC. and First Nationwide Bank, Defendants.

United States Bankruptcy Court, N.D. Texas, Dallas Division.

February 11, 1992.

Attorney(s) appearing for the Case

Michelle E. Roberts, Thompson & Knight, P.C., Dallas, Tex., for Southmark Corp., debtor/plaintiff.

Craig L. Stahl, Bracewell & Patterson, Houston, Tex., for First Nationwide Bank, defendant.

John Weninger, Dallas, Tex., for Southmark Personal Storage, Inc., defendant.

MEMORANDUM OPINION AND ORDER

STEVEN A. FELSENTHAL, Bankruptcy Judge.

On July 12, 1991, Southmark Corporation filed an adversary proceeding against Southmark Personal Storage, Inc. (SPS) and First Nationwide Bank (FNB) to avoid and recover allegedly preferential transfers under 11 U.S.C. § 547. On August 20, 1991, FNB moved to dismiss the complaint for failure to state a claim upon which relief can be granted. Southmark seeks to recover from FNB $221...

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