BANK OF MONTREAL V. OLAFSSON
648 F.2d 1078, cert. denied, 454 U.S. 1084 (6th Cir. 1981)
NATURE OF THE CASE: This was a dispute over a default judgment.
FACTS: P was a Canadian corporation and D was a citizen of Iceland. P sued D to recovery
$34,572 due on a promissory note and overdraft. The District Court granted a default
judgment and P filed liens on Michigan property held in D's wife's name and the property was
sold. D moved the set the judgment aside in that he was never served and that he had
declared bankruptcy in Canada and under Canadian law it was illegal to pursue claims while
bankruptcy was pending and that there was no diversity. The trial court found for D on the
no diversity issue and concluded under Rule 60(b)(4 or 6) that the judgment should be
vacated because it was entered in excess of the power of the court. D set aside the sales
and vacated the judgment. P appealed.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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