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GREENE v. GULF COAST BANK

No. 91-C-1377.

593 So.2d 630 (1992)

Karlan GREENE, et ux. v. GULF COAST BANK.

Supreme Court of Louisiana.

Rehearing Denied February 20, 1992.

Attorney(s) appearing for the Case

Paul J. Hebert, Charles R. Sonnier, Fred W. Davis, Sonnier, Hebert & Hebert, Charles William Roberts, Michael R. Mangham, Louis R. Davis, George W. Hardy, III, Mangham, Hardy & Rolfs, for applicant.

Silas B. Cooper, Jr., Cooper, Ortego & Woodruff, for respondent.

Bennet Scott Koren, Stephen Winthrop Rider, Byron Franklin Martin, III, for amicus curiae, First Nat. Bankers Bank.

MARCUS, Justice.

Industrial and Oilfield Rentals, Inc. (I.O.R.), incorporated in 1979, was an oilfield service company specializing in treating site pits and cleaning up drilling sites. Between 1979 and 1983, the president and founder of I.O.R., Earl Landry, borrowed money from Gulf Coast Bank (Bank) on numerous occasions. Most of these loans were invoice loans1 or equipment loans. The equipment loans were secured by collateral chattel...

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