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WALTER E. HELLER & CO. v. AMERICAN FLYERS AIRLINE CORP.

No. 64, Docket 71-1164.

459 F.2d 896 (1972)

WALTER E. HELLER & COMPANY, Inc., Plaintiff-Appellee, v. AMERICAN FLYERS AIRLINE CORPORATION, Defendant-Appellant. WALTER E. HELLER & COMPANY, Inc., Plaintiff-Appellee, v. Virginia PIGMAN as Executrix of the Estate of Reed Pigman, Deceased, Defendant-Appellant.

United States Court of Appeals, Second Circuit.

Decided April 5, 1972.

Attorney(s) appearing for the Case

Herbert M. Wachtell, Theodore Gewertz, Wachtell, Lipton, Rosen & Katz, New York City, for plaintiff-appellee.

Gerald E. Bodell, Watters & Donovan, New York City, for defendants-appellants.

Before MURRAH, WATERMAN and SMITH, Circuit Judges.

WATERMAN, Circuit Judge:

In order to finance a contemplated purchase of a Boeing 707 jet aircraft from the Boeing Company, the American Flyers Airline Corporation (American) on March 23, 1966 contracted to borrow a sum of money not to exceed $8,900,000 from Walter E. Heller & Company (Heller). Subsequent to the signing of the contract several events occurred which prevented the parties from consummating their agreement...

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