Eastern Holding Corp. v. Congress Financial Corp.

The plaintiffs, Eastern Holding Corporation (EHC) *738and Shelburne Corporation (Shelburne) (collectively, the plaintiffs), brought this lawsuit against the defendant, Congress Financial Corporation (Congress), seeking damages on account of Congress’s refusal to return cash collateral pledged by the plaintiffs to secure certain loans made by Congress to the plaintiffs’ subsidiaries (the borrowers) in the course of a lengthy financial relationship.2 A judge of the Superior Court granted summary judgment to Congress, and this appeal ensued. For the reasons that follow, we conclude that Congress was…