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INGERSOLL-RAND FINANCIAL CORP. v. ELECTRO COAL

Civ. A. No. 79-114.

496 F.Supp. 1289 (1980)

INGERSOLL-RAND FINANCIAL CORP., Plaintiff, v. ELECTRO COAL, INC. et al., Defendants.

United States District Court, E. D. Kentucky.

September 25, 1980.

Attorney(s) appearing for the Case

Stanley W. Saunier, Jr., Gess, Mattingly, Saunier & Atchison, Lexington, Ky., for plaintiff.

Kenneth Baker, Hazard, Ky., Denver Adams, Hyden, Ky., Shelby C. Kinkead, Jr., Lexington, Ky., for defendants.

MEMORANDUM OPINION AND ORDER

SCOTT REED, District Judge.

On October 4, 1978, the plaintiff, Ingersoll-Rand Financial Corp., loaned the Wells Coal Co., Inc. $1,087,337.72. This loan was secured by mining equipment listed in Equipment Schedule "A" of the Security Agreement. The plaintiff alleges that this loan also was secured by the corporate and individual guarantees of the defendants.

On November 8, 1978, a default judgment was entered against defendant...

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