Beztak Co. v. Bank One Columbus, N.A.

OPINION AND ORDER PARTIALLY GRANTING PLAINTIFFS’ MOTION FOR PRELIMINARY INJUNCTION

Introduction

EDMUNDS, District Judge.

Plaintiffs Beztak Company, Jerry Luptak, and four trust entities 1 have brought this action seeking preliminary and permanent injunctive relief. The matter arises out of transactions between plaintiffs and others and Bank One, in which Security Bancorp stock was pledged to secure certain loans. The Bank has seized the stock and plans to sell it, claiming that it is entitled to do so as a result of plaintiffs’ defaults on their loans. Plaintiffs’ complaint and separate motion…