Legal Opinion
In Re Commercial Money Center, Inc.
District Court, N.D. Ohio
Decided March 11, 2009No. Case No. 1:02CV16000. MDL Docket No. 1490. This Order Relates To Case Nos. 02CV16010, 02CV16012, 02CV16014, 02CV16019, 02CV16020, 02CV16021, 02CV16022, 02CV16024, 03CV16002, 03CV16003, 03CV16004, 03CV16005 and 03CV16006PublishedCited by 9 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
KATHLEEN McDONALD O’MALLEY, District Judge.
The dispute in these actions centers around the Sureties’ liability on various surety bonds issued in connection with certain transactions between the Banks 1 and Commercial Money Center, Inc. (“CMC”). CMC’s business purportedly involved the leasing of equipment and vehicles to numerous lessees in exchange for lease payments. CMC then pooled the leases and sold them to institutional investors. Apparently, the majority of CMC’s leasing business was a sham, and the Banks claim millions of dollars in losses from these transactions.…
2Cases cited62 opinions
- Klaxon Co. v. Stentor Electric Manufacturing Co.Supreme Court of the United States · 1941
- Van Dusen v. BarrackSupreme Court of the United States · 1964
- Foley v. Interactive Data Corp.California Supreme Court · 1988
- Gruenberg v. Aetna InsuranceCalifornia Supreme Court · 1973
- Egan v. Mutual of Omaha InsuranceCalifornia Supreme Court · 1979
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3Cited by9 opinions
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- Evans v. Hanger Prosthetics & Orthotics, Inc.District Court, N.D. Ohio · 2010
- Herndon v. TorresDistrict Court, N.D. Ohio · 2017
- Valente v. UNIVERSITY OF DAYTONDistrict Court, S.D. Ohio · 2010
- Cashman Equipment Corp. v. United States Fire InsuranceCourt of Appeals for the Third Circuit · 2010
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