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PACIFIC EASTERN CORP. v. GULF LIFE HOLDING CO.

902 S.W.2d 946 (1995)

PACIFIC EASTERN CORPORATION and Harpeth Village Development Company, Plaintiffs/Appellants, v. GULF LIFE HOLDING COMPANY, Gulf Life Insurance Company, Gulf United Corporation, Gulf Mortgage and Realty Investments, GMR Properties, Grubb & Ellis, Manufacturers Hanover Corp., Manufacturers Hanover Trust Co., ITR Properties, Inc., Chemical Banking Corp., Chemical Bank, and American General Corporation, Defendants/Appellees.

Court of Appeals of Tennessee, Middle Section, at Nashville.

Application for Permission to Appeal Denied July 10, 1995.

Attorney(s) appearing for the Case

Robert L. DeLaney, DeLaney & Cannon, James M. Cannon, Nashville, for appellant.

Thomas P. Kanaday, Jr., William L. Baggett, Jr., Farris, Warfield & Kanaday, Nashville, for American General Corp. and Gulf Life Ins. Co.

J. Mark Tipps, Bass, Berry & Sims, Nashville, for Grubb & Ellis Co., for appellee.

Application for Permission to Appeal Denied by Supreme Court July 10, 1995.

OPINION

KOCH, Judge.

This appeal involves a 1971 lending transaction relating to the development of a Nashville hotel. The borrower filed suit in 1993 in the Chancery Court for Davidson County against nine defendants, including the original lender and its assignees, seeking to invalidate the transaction on the grounds of usury. The trial court dismissed the complaint...

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