Legal Opinion
Knauf Fiber Glass, GMBh v. Stein
Indiana Supreme Court
Decided October 22, 1993No. 03S05-9310-CV-1145PublishedCited by 19 opinions
1Opinion of the Court
SHEPARD, Chief Justice.
When a major customer induces a business corporation to expand its operations in anticipation of additional purchases, does the major customer owe a duty to the shareholders of the corporation who guarantee loans necessary to the expansion? We hold there is generally no such duty, that damage suffered by the shareholders on the guarantee is derivative of damages suffered by the corporation itself.
Procedural History
When Ashcraft Trucking, Inc., and its owner Glyn Ashcraft went bankrupt in 1985, the trustees in bankruptcy sued Knauf Fiber Glass Corporation (“KFG”).…
2Cases cited8 opinions
- Moll v. South Central Solar Systems, Inc.Indiana Court of Appeals · 1981
- Victor Schaffer v. Universal Rundle Corporation, Universal Rundle Corporation v. Victor SchafferCourt of Appeals for the Fifth Circuit · 1968
- C. Severin Buschmann, Jr. v. Professional Men's AssociationCourt of Appeals for the Seventh Circuit · 1969
- Sacks v. American Fletcher National Bank & Trust Co.Indiana Supreme Court · 1972
- Knauf Fiber Glass, GmbH v. SteinIndiana Court of Appeals · 1993
3 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- John E. Trytko, Jr. v. Hubbell, Inc., Cross-AppelleeCourt of Appeals for the Seventh Circuit · 1994
- Richard Doermer v. Kathryn CallenCourt of Appeals for the Seventh Circuit · 2017
- James D. Massey and Dennis E. Murray, Sr. v. Merrill Lynch & Co., Inc.Court of Appeals for the Seventh Circuit · 2006
- Huffman v. Indiana Office of Environmental AdjudicationIndiana Supreme Court · 2004
- Boland v. EngleCourt of Appeals for the Seventh Circuit · 1997
14 more not listed; retrieve them via the Exa API.