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FEDERAL DEPOSIT INS. CORP. v. FREUDENFELD

No. 79-C-340.

492 F.Supp. 763 (1980)

FEDERAL DEPOSIT INSURANCE CORPORATION, a United States Corporation, Plaintiff, v. Bernard A. FREUDENFELD, Defendant.

United States District Court, E. D. Wisconsin.

June 6, 1980.

Attorney(s) appearing for the Case

Gregory G. Wille, Gibbs, Roper, Loots & Williams, Milwaukee, Wis., for plaintiff.

Craig Gordon Smith, Milwaukee, Wis., for defendant.

MEMORANDUM AND ORDER

WARREN, District Judge.

In January of 1975, the defendant, Bernard A. Freudenfeld, applied to the American City Bank & Trust Company (American) for an Irrevocable Standby Letter of Credit up to an amount of $10,000.00 available by drafts drawn at sight. The application named the Miami National Bank (MNB) of Miami, Florida as beneficiary and specified that the requested letter of credit was to be for the account of James and Jill...

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