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SUMMIT PETROLEUM v. INGERSOLL-RAND

No. 89-5862.

909 F.2d 862 (1990)

SUMMIT PETROLEUM CORPORATION OF INDIANA; and B & J Oil Co., Inc., Plaintiffs-Appellees, v. INGERSOLL-RAND FINANCIAL CORP.; and Myron Jones, Defendants-Appellants.

United States Court of Appeals, Sixth Circuit.

Decided July 6, 1990.

Attorney(s) appearing for the Case

H. Eugene Harmon, Philip I. Huddleston (argued), Huddleston Brothers, Bowling Green, Ky., for plaintiffs-appellees.

Franklin D. Drake (argued), Mapother & Mapother, Louisville, Ky., for defendants-appellants.

Before GUY and RYAN, Circuit Judges, and ENGEL, Senior Circuit Judge.

RALPH B. GUY, Jr., Circuit Judge.

In this diversity action concerning the sale of collateral securing a commercial debt, defendants Ingersoll-Rand Financial Corporation (IRFC) and Myron Jones appeal from a judgment entered by the district court following a one-day bench trial. The district court, applying Kentucky law, determined that the defendants unlawfully sold a drilling rig by failing to provide notice or a right of redemption to plaintiff Summit Petroleum Corporation...

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