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WINDSOR SHIRT CO. v. NEW JERSEY NAT. BANK

Civ. A. No. 90-4851.

793 F.Supp. 589 (1992)

WINDSOR SHIRT COMPANY v. NEW JERSEY NATIONAL BANK.

United States District Court, E.D. Pennsylvania.

May 11, 1992.

Attorney(s) appearing for the Case

Paul R. Rosen, Neils Korup, Robert L. Grundlock, Spector, Gadon & Rosen, P.C., Philadelphia, Pa., for plaintiffs.

Karen Anne Pieslak, Gregory M. Harvey, Philadelphia, Pa., for defendant.

Michael S. Poulos, Ernst & Young, Cleveland, Ohio, for movant.

Gregory M. Harvey, Morgan, Lewis & Bockius, Philadelphia, Pa., for Terence J. Fox, and Archer & Greiner, a Professional Corporation, movant.

OPINION

CAHN, District Judge.

I. Background

On December 1st, 1989, defendant New Jersey National Bank ("Bank") informed plaintiff Windsor Shirt Company ("Windsor") that it was ending its banking relationship with Windsor. The Bank called Windsor's Loan Agreement of November 18, 1988 ("Loan Agreement"), which was not due to expire until May, 1990, because it believed that Windsor had materially breached the Loan Agreement. The Bank demanded...

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