Paine-Erie Hospital Supply, Inc. v. Lincoln First Bank

This action originated in a temporary restraining order obtained by the plaintiff against the defendant enjoining it from proceeding under a security agreement to effect collection of moneys owred by the plaintiff to the defendant by recourse against securities and accounts receivable assigned as collateral.

The temporary restraining order was obtained preliminary to plaintiff’s motion for a temporary injunction pending its action for damages claimed by reason of defendant’s breach of an agreement modifying the original loan agreement whereby, the plaintiff alleges, the defendant agreed not to…