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DERRY FINANCE N.V. v. CHRISTIANA COMPANIES, INC.

No. 85-5741.

797 F.2d 1210 (1986)

DERRY FINANCE N.V., a Netherlands Antilles Corporation and C.F.S. Planning Corporation and Richard Klein, Residents of California v. The CHRISTIANA COMPANIES, INC., A Delaware Corporation, and AARK Enterprises, Inc., a Delaware Corporation, and AARK Enterprises, a New York partnership. Appeal of DERRY FINANCE N.V.

United States Court of Appeals, Third Circuit.

Decided August 1, 1986.

Rehearing Denied September 11, 1986.

Attorney(s) appearing for the Case

Lawrence C. Ashby (argued), Stephen E. Jenkins, Ashby, McKelvie & Geddes, Wilmington, Del., Jerry J. Strochlic, Stuart A. Krause, Sage, Gray, Todd & Sims, New York City, for appellant.

Jerome Wiener (argued), David J. Lester, Antonow & Fink, Chicago, Ill., William J. Wade, Richards, Layton & Finger, Wilmington, Del., for appellee.

Before GIBBONS, BECKER and STAPLETON, Circuit Judges.

OPINION OF THE COURT

GIBBONS, Circuit Judge:

Derry Finance N.V. (Derry) appeals a partial summary judgment in favor of the Christiana Companies, Inc. (Christiana) in its suit for nonpayment of six recourse promissory notes. (Christiana recourse notes). The district court held that Christiana, the maker of the notes, was relieved from liability by operation of a restrictive provision in those notes. On appeal Derry argues that the district court erred in...

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