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RUSSELL CORP. v. BANCBOSTON FIN. CO.

A93A0513.

209 Ga. App. 660 (1993)

434 S.E.2d 716

RUSSELL CORPORATION et al. v. BANCBOSTON FINANCIAL COMPANY.

Court of Appeals of Georgia.

Reconsideration Denied July 26, 1993.

Attorney(s) appearing for the Case

Decker & Hallman, F. Edwin Hallman, Jr., Steven M. Mills, for appellants.

Nelson, Mullins, Riley & Scarborough, Kenneth L. Millwood, Scott K. Tippett, B. Shane Clanton, for appellee.

SMITH, Judge.

The Russell Corporation and Gulf South Petroleum, Inc., (the companies) engaged in the petroleum wholesale business. In 1985, BancBoston Financial Company (the bank) established a revolving line of credit in favor of the companies, secured in part by their inventory, accounts receivable, and certain real estate. The companies applied advances from this line of credit to pay their petroleum suppliers and also to purchase additional real estate.

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