Standard Wire & Cable Co. v. AmeriTrust Corp.

OPINION AND ORDER RE: DEFENDANTS’ PRE-TRIAL MOTIONS

INTRODUCTION

Standard Wire & Cable Co. (“Standard”) is a wholesale supplier of wire and cable products. In August 1984, Standard obtained a secured line of credit loan from defendant Associates Commercial Corp. (“Associates”). This loan was subsequently assumed by AmeriTrust Corp. (“Ameri-Trust”), when it purchased the Business Loans Division of Associates in July 1986.

This dispute arises out of disagreements between the parties during the lending relationship and alleged fraud during the negotiation and performance stages of the loan. Standard filed a petition for Chapter 11 bankruptcy on March 13, 1987 and filed this suit against Associates (and its parent corporation) and AmeriTrust (and two subsidiary corporations) on March 16, 1987.

Standard filed a Supplemental and First Amended Complaint, which includes 25 causes of action, on November 30, 1987. The Associates and AmeriTrust groups of defendants, respectively, filed Answers and Counterclaims on January 29, 1988.

MOTIONS PENDING

Before the Court are the following 10 motions:

I. AmeriTrust’s motion for partial summary judgment on plaintiffs’ claims for intentional…