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IN RE PRESIDENTS MORTG. INDUS. BANK

Civ. A. No. 89-M-609, Bankruptcy No. 87 B 13155 E, Adv. No. 88 C 809.

110 B.R. 508 (1989)

In re PRESIDENTS MORTGAGE INDUSTRIAL BANK, a Colorado industrial bank, Debtor. PRESIDENTS MORTGAGE INDUSTRIAL BANK, a Colorado industrial bank, Plaintiff-Appellant, v. INDUSTRIAL BANK SAVINGS GUARANTY CORPORATION OF COLORADO, Defendant-Appellee.

United States District Court, D. Colorado.

December 13, 1989.

Attorney(s) appearing for the Case

Glen E. Keller, Jr., David R. Garfield, Denver, Colo., for debtor/plaintiff-appellant.

Robert E. Markel, Edward P. O'Brien, Hellerstein, Hellerstein and Shore, P.C., Denver, Colo., for defendant-appellee.

MEMORANDUM OPINION AND ORDER

MATSCH, District Judge.

This is a bankruptcy appeal. Oral argument will not aid this court's determination. The plaintiff-appellant and debtor, Presidents Mortgage Industrial Bank (Presidents), became insolvent in September, 1987. According to the owner and current president of Presidents, Ronald Weiszmann,

the industrial bank operated as a mortgage banker. It would take deposits from the public. It would use those funds...

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