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REDD v. FEDERAL LAND BANK OF ST. LOUIS

No. N86-155C.

661 F.Supp. 861 (1987)

Donald E. REDD and Mary A. Redd, Plaintiffs, v. FEDERAL LAND BANK OF ST. LOUIS, Federal Land Bank Association of Northeast Missouri, and Doug Browne, Trustee, Defendants.

United States District Court, E.D. Missouri.

April 13, 1987.

Attorney(s) appearing for the Case

Dale Reesman, Williams, Reesman & Tate, Boonville, Mo., Robert M. Clayton, II, Clayton & Stine, Hannibal, Mo., for plaintiffs.

David A. Lander, Thomas M. Dee, Husch, Eppenberger, Donohue, Elson & Cornfeld, St. Louis, Mo., Clifford H. Ahrens, Rendlen, Rendlen, Ahrens, Browne & Rendlen, Hannibal, Mo., for defendants.

MEMORANDUM AND ORDER

FILIPPINE, District Judge.

This matter is before the Court on defendants' motion to dismiss. This action arises from plaintiffs' failure to make installment payments required by a promissory note that plaintiffs executed in favor of the Federal Land Bank of St. Louis. Defendants moved to foreclose, and plaintiffs filed this action. Plaintiffs allege that defendants have violated the Farm Credit Act of 1971 (the Act), 12 U.S.C. §...

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