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JO-ANN'S LAUNDER CENTER v. CHASE MANHATTAN BANK

Civ. No. 1989-106.

854 F.Supp. 387 (1994)

JO-ANN'S LAUNDER CENTER, INC. et al., Plaintiffs, v. The CHASE MANHATTAN BANK, N.A., Defendant.

District Court, Virgin Islands, D. St. Croix.

January 14, 1994.

Attorney(s) appearing for the Case

Richard Farrelly, Charlotte Amalie, St. Thomas, VI, for defendant.

Gerald Groner, Christiansted, St. Croix, VI, for plaintiffs.

MEMORANDUM AND ORDER

MOORE, Chief Judge.

This matter is before the Court on defendant's summary judgment motion pursuant to FED.R.CIV.P. 56. For the reasons expressed herein, the motion will be granted in part and denied in part.

I. BACKGROUND

In June 1984, plaintiffs Rafael and Paulina Estrada (sometimes "the Estradas"), who were operating Jo-Ann's Laundromat and Drycleaning (sometimes "Jo-Ann's"), obtained a $250,000 loan from...

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