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GLEW v. OHIO SAVINGS BANK

No. 20051092.

181 P.3d 791 (2007)

2007 UT 56

Jordan GLEW, Maureen Glew, James R. Nichol, and Joan P. Nichol, Plaintiffs, Counterclaim Defendants, and Appellees, Superior Title Company of Utah, Additional Counterclaim Defendant, v. OHIO SAVINGS BANK, Defendant, Counterclaimant, Third-Party Plaintiff, and Appellant, v. Metro National Title Company, Third-Party Defendant.

Supreme Court of Utah.

Rehearing Granted November 7, 2007.

Supplementing Opinion on Rehearing February 22, 2008.

Attorney(s) appearing for the Case

Richard A. Rappaport, Leslie Van Frank, Thomas J. Burns, Salt Lake City, for plaintiffs.

George A. Hunt, Salt Lake City, for defendant.

NEHRING, Justice:

INTRODUCTION

¶ 1 In this appeal, Ohio Savings Bank challenges the outcome of a bench trial. Ohio Savings claims that it, as the holder of a $271,000 bridge loan note, was entitled to full payment of the note despite the fact that the makers of the note, James and Joan Nichol, had already directed the payoff proceeds to the soon-to-be-bankrupt FirstPlus Financial, Inc., which had transferred the note to Ohio Savings after originating...

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