Comerica Bank v. Whitehall Specialties, Inc.

ORDER 1) GRANTING PLAINTIFF’S MOTION TO REMAND THIS ACTION TO STATE COURT, AND 2) DENYING DEFENDANT WHITEHALL SPECIALITIES’ MOTION TO TRANSFER VENUE AS MOOT

The court, Judge Robert J. Timlin, has read and considered plaintiffs Comerica Bank (“Comerica”), LaSalle Business Credit, Inc. (“LaSalle”), HSBC Business Credit (USA), Inc. (“HSBC”), and GMAC Commercial Credit, LLC (“GMAC”) (collectively, “Plaintiffs”)’s motion to remand, defendants Whitehall Specialities, Inc. (“Whitehall”), Steve Fawcett (“Fawcett”), Cees Wit (“Wit”), and John Lynch (“Lynch”) (collectively, “Defendants”)’s opposition, and Plaintiffs’ reply. Based on such consideration, the court concludes as follows;

I.

BACKGROUND

On October 31, 1998, Comercia, acting as an agent of a bank group comprised of LaSalle, HSBC, GMAC (“Bank Group”), entered into a Credit Agreement (“Agreement”) with A & J Cheese Co. (“A & J Cheese”), a company owned and directed by Jack Gaglio (“Gaglio”). Pursuant to the Agreement, the Bank Group agreed to make loans to A & J Cheese from time to time based on its inventory and accounts receivables (“receivables”). In return, the Bank Group received a security interest in A & J Cheese’s…