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WALKER v. FIRST PENNSYLVANIA BANK, N. A.

Civ. A. No. 80-2237.

518 F.Supp. 347 (1981)

R. Richard WALKER and Bill W. Weatherford t/a Ypsi-Ann Associates v. FIRST PENNSYLVANIA BANK, N.A.

United States District Court, E. D. Pennsylvania.

July 20, 1981.

Attorney(s) appearing for the Case

Alison Douglas Knox, Philadelphia, Pa., for plaintiffs.

Myron A. Bloom and Nancy R. Grunberg, Philadelphia, Pa., for defendant.

OPINION

LUONGO, District Judge.

Plaintiffs in this diversity action are the principals in a limited partnership, Ypsi-Ann Associates, formed to develop a shopping center in Michigan. They received a construction loan commitment from defendant First Pennsylvania Bank, for which they paid First Pennsylvania a loan commitment fee. The venture failed when Ypsi-Ann was unable to secure permanent financing for the project. Ypsi-Ann asked First Pennsylvania to...

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