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TENARK CONST. CORP. v. GREAT AMERICAN MORTG. INVESTORS

Civ. A. No. 74-804.

431 F.Supp. 863 (1977)

TENARK CONSTRUCTION CORPORATION v. GREAT AMERICAN MORTGAGE INVESTORS, Hosts Consultants, Inc., Simpson Braswell Corporation, Jack K. Simpson, Floyd K. Braswell, and City Bank & Trust Company, Commercial National Bank in Shreveport, Third-Party Defendant.

United States District Court, W. D. Louisiana, Shreveport Division.

May 17, 1977.

Attorney(s) appearing for the Case

Whitfield Jack and Fred H. Sutherland, Booth, Lockard, Jack, Pleasant & LeSage, Shreveport, La., for plaintiff.

Sidney B. Galloway, James R. Jeter, and Herschel E. Richard, Jr., Cook, Clark, Egan, Yancey & King, Shreveport, La., for defendants Great American and Commercial National Bank.

J. Edgerton Pierson, Jr., Blanchard, Walker, O'Quin & Roberts, Shreveport, La., for defendant City Bank.

Henry C. Gahagan, Gahagan & Gahagan, Natchitoches, La., for all other defendants.

RULING ON THE MERITS

DAWKINS, Senior District Judge.

Tenark Construction Corporation (Tenark) agreed to construct a motel in Bossier City, Louisiana, for which it would receive periodic progress payments from a special bank account opened at City Bank and Trust Company (City Bank) in Natchitoches, Louisiana. Plaintiff claims in this diversity action that the defendants listed infra breached the financing arrangement by allowing certain transfers of...

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