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KNAUF FIBER GLASS, GMBH v. STEIN

No. 03S05-9310-CV-1145.

622 N.E.2d 163 (1993)

KNAUF FIBER GLASS, GMBh, Appellant, v. Sidney STEIN, Trustee of Ashcraft Trucking, Inc., and Neil Shook, Trustee of Glyn Ashcraft and Carolyn Ashcraft, Appellees.

Supreme Court of Indiana.

October 22, 1993.

Attorney(s) appearing for the Case

Robert T. Thopy, McNeely, Sanders, Stephenson & Thopy, Shelbyville, Michael R. Fruehwald, Barnes & Thornburg, Indianapolis, Patrick W. Harrison, Beck & Harrison, Columbus, for appellant.

Robert Garelick, Steven M. Crell, S. James Fishman, Mantel, Cohen, Garelick, Reiswerg & Fishman, Indianapolis, Richard S. Eynon, Barbara Stevens, Columbus, for appellees.

SHEPARD, Chief Justice.

When a major customer induces a business corporation to expand its operations in anticipation of additional purchases, does the major customer owe a duty to the shareholders of the corporation who guarantee loans necessary to the expansion? We hold there is generally no such duty, that damage suffered by the shareholders on the guarantee is derivative of damages suffered by the corporation itself...

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