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BUSINESS DEV. CORP. OF GA. v. HARTFORD FIRE INS.

No. 83-8892.

747 F.2d 628 (1984)

BUSINESS DEVELOPMENT CORPORATION OF GEORGIA, INC., Plaintiff-Appellant, v. HARTFORD FIRE INSURANCE COMPANY, Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

November 27, 1984.

Attorney(s) appearing for the Case

Walter G. Elliott, Jr., Franklin R. Nix, Atlanta, Ga., for plaintiff-appellant.

Malcolm P. Smith, Atlanta, Ga., for defendant-appellee.

Before RONEY and ANDERSON, Circuit Judges, and MORGAN, Senior Circuit Judge.

R. LANIER ANDERSON, III, Circuit Judge:

In this diversity action, cross-motions for summary judgment were filed, and the district court ruled in favor of the insurer. We reverse and remand for further proceedings.

I.

Appellant Business Development Corporation of Georgia, Inc. ("BDC") loaned $100,000 to Chatsworth Rubber Products, Inc. ("Chatsworth"), and took a security interest in certain equipment and other personalty owned by Chatsworth. At the...

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