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PENN MUT. LIFE INS. v. BANK OF NEW ENGLAND

Civ. A. No. 90-1330.

756 F.Supp. 856 (1991)

The PENN MUTUAL LIFE INSURANCE COMPANY v. BANK OF NEW ENGLAND CORPORATION, and BNE Massachusetts Corporation.

United States District Court, E.D. Pennsylvania.

February 1, 1991.

Attorney(s) appearing for the Case

Jami McKeon, Philadelphia, Pa., for plaintiff.

David H. Pittinsky, Philadelphia, Pa., for defendants.

OPINION

DITTER, District Judge.

Pursuant to Federal Civil Procedure Rule 56, plaintiff seeks summary judgment on Count I of its complaint alleging breach of a note agreement. Having considered the parties' memoranda, supplemental memoranda, replies, surreplies, counter-replies, and oral argument, I will grant plaintiff's motion.

I. FACTS

A. The Note Agreement

On July 12, 1984, Penn Mutual ("PM") loaned The Conifer/Essex...

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