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LIPTON v. FIRST UNION NAT. BANK

No. 4D06-175.

944 So.2d 1256 (2007)

Edward S. LIPTON, Appellant, v. FIRST UNION NATIONAL BANK, Appellee.

District Court of Appeal of Florida, Fourth District.

January 3, 2007.

Attorney(s) appearing for the Case

Andrew T. Lavin of Navon & Lavin, P.A., Fort Lauderdale, for appellant.

John H. Pelzer of Ruden, McClosky, Smith, Schuster & Russell, P.A., Fort Lauderdale, and Morris G. Miller and Amy S. Rubin of Ruden, McClosky, Smith, Schuster & Russell, P.A., West Palm Beach, for appellee.

HAZOURI, J.

Edward S. Lipton entered into an equity line of credit contract with First Union National Bank under which he could borrow up to $3,000,000. Less than a month after the closing, the Bank discovered that Lipton and his businesses had been involved in litigation with the Federal Trade Commission (FTC) and, just prior to the closing, a Stipulated Judgment and Order for Permanent Injunction and Other Equitable Relief was entered into by Lipton and his two...

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