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ORIX CREDIT ALLIANCE v. TAYLOR MACHINE WORKS

No. 96-3184.

125 F.3d 468 (1997)

ORIX CREDIT ALLIANCE, INC., Plaintiff-Appellant, v. TAYLOR MACHINE WORKS, INC., and William D. Metts, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided September 5, 1997.

Attorney(s) appearing for the Case

Michael J. O'Rourke, Thomas G. Griffin, Michael C. Moody (argued), Roseanne Loftus, O'Rourke & Griffin, Chicago, IL, for Plaintiff-Appellant.

Aaron T. Shepley, Brian W. Bell (argued), Swanson, Martin & Bell, Chicago, IL, for Defendants-Appellees.

Before COFFEY, KANNE, and ROVNER, Circuit Judges.

KANNE, Circuit Judge.

Orix Credit Alliance, Inc. ("Orix"), an asset-based commercial lender, loaned $400,000 to Gallo Equipment's Florida division ("Gallo Florida"). To facilitate the capital loan, Orix and Gallo Florida asked Taylor Machine Works ("Taylor") to provide appraisals of certain Taylor-manufactured equipment owned by Gallo Florida that would serve as collateral for the loan. Orix also asked Taylor to agree to repurchase the equipment if Gallo Florida should...

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