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TAZEWELL OIL v. UNITED VIRGINIA BANK

Record Nos. 910299, 910301.

413 S.E.2d 611 (1992)

TAZEWELL OIL COMPANY. INC. v. UNITED VIRGINIA BANK/CRESTAR BANK v. UNITED VIRGINIA BANK/CRESTAR BANK v. TAZEWELL OIL COMPANY, INC.

Supreme Court of Virginia.

As Amended February 28, 1992.

Attorney(s) appearing for the Case

Thomas W. McCandlish, Wyatt B. Durrette, Jr., Richmond (David D. Hopper; Barrett E. Pope, Mezzullo & McCandlish; Durrette, Irvin Lemons & Fenderson, on briefs), for appellant Tazewell Oil Co., Inc.

S.J. Thompson, Jr., Leighton S. Houck, Lynchburg (Joy Lee Price, Caskie & Frost, on brief), for appellee United Virginia Bank/Crestar Bank.

Present: CARRICO, C.J., COMPTON, STEPHENSON, WHITING, LACY and KEENAN, JJ., and POFF, Senior Justice.

LACY, Justice.

In these two cases, the execution by two lien creditors of their agreement to liquidate their security by seizing their debtor's accounts receivable and inventory has generated a number of legal issues. The primary issues involve one creditor's liability for conspiracy, the effect of releases with other tortfeasors on that creditor's liability and on its right to reduction of the recovery award by the amounts...

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