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FIRST BANK v. FISCHER & FRICHTEL, INC.

No. SC 91951.

364 S.W.3d 216 (2012)

FIRST BANK, Respondent, v. FISCHER & FRICHTEL, INC., Appellant.

Supreme Court of Missouri, En Banc.

April 12, 2012.

Attorney(s) appearing for the Case

R. Thomas Avery, Robert D. Blitz, Jason K. Turk, Blitz, Bardgett & Deutsch LC, St. Louis, for Fischer & Frichtel.

Thomas B. Weaver, Matthew J. Reh, Sara Finan Melly, Armstrong Teasdale LLP, St. Louis, for First Bank.

Brian C. Walsh, K. Lucinda McRoberts, Bryan Cave LLP, St. Louis, for Missouri Bankers Association, which submitted a Brief as a friend of the Court.

John L. Davidson, St. Louis, for Business Bank, which submitted a brief as a friend of the Court.

LAURA DENVIR STITH, Judge.

This case involves the question of whether the amount of the deficiency owed by Fischer & Frichtel Inc., a sophisticated commercial debtor, after a foreclosure sale of its property should be measured by the difference between the amount of the unpaid debt and the amount obtained at the foreclosure sale or, instead, by the difference between the amount of the unpaid debt and the fair market value of the property at the time of the foreclosure...

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