M&T Capital and Leasing Corp. v. Freon Logistics

1 2 3 4 5 6 7 8 UNITED STATES DISTRICT COURT 9 FOR THE EASTERN DISTRICT OF CALIFORNIA 10 11 M&T CAPITAL AND LEASING No. 2:23-cv-01171-WBS-KJN

CORPORATION,

12 ORDER Plaintiff, 13

14 v. 15 FREON LOGISTICS, 16 Defendant. 17 18 Plaintiff M&T Capital and Leasing Corporation seeks default judgment for breach of 19 contract against defendant Freon Logistics in the amount of $4,581,805.32, plus 18% post- 20 judgment interest. (See ECF No. 15 at 3.) The undersigned took plaintiff’s motion under 21 submission without oral argument in accordance with Eastern District Local Rule 230(g). (ECF 22 No. 16.) 23 Upon review of plaintiff’s motion and supporting documents, the court denies plaintiff’s 24 motion without prejudice. 25 //// 26 //// 27 //// 28 1 I. Factual Background 2 A. Loan Agreement and Default 3 On or about February 15, 2018, plaintiff made various loans to defendant to purchase 4 transportation equipment.1 (ECF No. 1 at 2, ¶¶ 5-6.) The loan equipment was delivered to 5 defendant. (Id. at 3, ¶ 7.) Pursuant to the terms of…