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TEACHERS' RETIREMENT SYSTEM v. LA. ST. EMPLOYEES RETIREMENT SYSTEM

No. 84-C-0344.

456 So.2d 594 (1984)

TEACHERS' RETIREMENT SYSTEM OF LOUISIANA et al. v. LOUISIANA STATE EMPLOYEES' RETIREMENT SYSTEM.

Supreme Court of Louisiana.

September 10, 1984.

Attorney(s) appearing for the Case

Frank W. Middleton, Jr., J. Ashley Moore, Taylor, Porter, Brooks & Phillips, Baton Rouge, for plaintiffs-applicants.

Carlos G. Spaht, Lee C. Kantrow, David S. Rubin, Lois E. Hawkins, Kantrow, Spaht, Weaver & Walter, Baton Rouge, for defendant-respondent.

CALOGERO, Justice.

Plaintiff interim lenders1 assert a cause of action against a permanent lender2 seeking damages which were allegedly sustained when the permanent lender refused to honor a contractual "take out commitment" after the borrower3 defaulted on the interim loan. One plaintiff, GAMI, was the "lead" interim lender. The other plaintiffs were "participants" in the interim...

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