Alexander Group, LLC v. Comerica Bank

BACKGROUND

26 1. Plaintiffs Enter into Loan Agreements with Defendants. 27 Alexander Group is a “single purpose entity formed to hold title to the real property located at 25447 Industrial Boulevard, Hayward, California” (the “Property”). Comerica Bank’s Motion for Summary Judgment (“Mot.”) [Dkt. No. 36] at 9. Blue River Seafood, Inc. (d/b/a Pucci Foods) (“Blue River”) is a seafood wholesaler that operates in the Property. Id.; Alexander Group, LLC’s Opposition (“Oppo.”) [Dkt. No. 40] at 2. Chris Lam (“Mr. Lam”) is the principal of both Alexander Group and Blue River, having acquired Blue River in 2001. Id. Shortly after acquiring Blue River, Mr. Lam met with Robert Muzio, a Comerica banker who “specialized in serving middle-market companies like Blue River.” Oppo. at 2. Comerica extended a loan to Blue River in August 2001 (the “Blue River Loan”). Mot. at 9–10. This loan was made with “revolving lines of credit secured by the company’s accounts receivables and inventory.” Oppo. at 2. Later, in August 2002, Comerica entered a separate real estate loan with Alexander Group (the “Alexander Loan”), which was secured by a…