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FIRST NAT. BANK, ETC. v. MASTER AUTO SERVICE CORP.

Nos. 81-2221(L), 82-1044.

693 F.2d 308 (1982)

FIRST NATIONAL BANK OF LOUISVILLE, Appellee/Cross Appellant v. MASTER AUTO SERVICE CORPORATION, Appellant/Cross Appellee.

United States Court of Appeals, Fourth Circuit.

Decided November 2, 1982.

Rehearing and Rehearing Denied March 16, 1983.

Attorney(s) appearing for the Case

Joseph R. Lassiter, Jr., Norfolk, Va. (Hofheimer, Nusbaum, McPhaul & Brenner, Norfolk, Va., on brief), for appellant/cross appellee.

Stanley G. Barr, Jr., Norfolk, Va. (Kaufman & Canoles, Norfolk, Va., Douglas Gene Sharp, Morgan & Pottinger, Louisville, Ky., on brief), for appellee/cross appellant.

Before WINTER, Chief Judge, PHILLIPS and ERVIN, Circuit Judges.

Rehearing and Rehearing En Banc Denied March 16, 1983.

ERVIN, Circuit Judge:

This action arose when First National Bank of Louisville (the Bank), a secured lender and assignee of the accounts receivable of International Rubber Industries, Inc. (IRI), brought an action against Master Auto Service Corp. (Master Auto) to recover $235,655.04 owed by Master Auto to IRI for the purchase of a large quantity of all-steel...

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