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MELLON BANK, N.A. v. AETNA BUSINESS CREDIT, INC.

Civ. A. No. 75-1135.

468 F.Supp. 656 (1979)

MELLON BANK, N.A., M. G. Buckeye Corp. and Mike Goldgar, Plaintiffs, v. AETNA BUSINESS CREDIT, INC., Defendant.

United States District Court, W. D. Pennsylvania.

March 30, 1979.

Attorney(s) appearing for the Case

Gilbert J. Helwig, and Robert K. Morris, Reed, Smith, Shaw & McClay, Pittsburgh, Pa., for plaintiff Mellon Bank.

James H. Joseph and Donald S. Hershman, Pittsburgh, Pa., for plaintiffs Goldgar and Buckeye.

William C. O'Neil and David G. Ries, Thorp, Reed & Armstrong, Pittsburgh, Pa., for defendant Aetna.

OPINION

WEBER, Chief Judge.

This case, which is before the Court on cross-motions for summary judgment, involves the interpretation of a document known in the overlapping worlds of real estate development and high finance as a "Buy-Sell Agreement." The basic question is whether Defendant Aetna Business Credit, Inc., (Aetna) was obligated on August 1, 1975 to assume a loan of $1,850,000 made by Plaintiff Mellon Bank, N.A. (Mellon) to Plaintiff M. B. Buckeye...

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