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HOOSIER STATE BANK v. INTERN. SURPLUS LINES INS.

No. H 77-344.

544 F.Supp. 124 (1982)

HOOSIER STATE BANK OF INDIANA, Plaintiff, v. INTERNATIONAL SURPLUS LINES INSURANCE COMPANY, Defendant.

United States District Court, N. D. Indiana, Hammond Division.

July 28, 1982.

Attorney(s) appearing for the Case

Albert C. Hand, Hammond, Ind., for plaintiff.

Robert Kluchin, John Morrison, Chicago, Ill., Frederick H. Link, Hammond, Ind., for defendant.

KANNE, District Judge.

On October 1, 1972, plaintiff entered into an indenture with the City of Mammoth Spring, Arkansas, as trustee for bondholders purchasing industrial revenue bonds from the city with a total face value of 2.5 million dollars. By its terms, the city was to buy land and to construct a fish farm facility, which it would then lease to Marine Protein Corporation. Marine Protein in turn would arrange for...

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