Shipston Associates v. Esselte Pendaflex Corp.

TJOFLAT, Chief Judge:

This appeal involves a sale-leaseback transaction gone awry. The parties appeal from the final judgment of the District Court for the Northern District of Georgia, granting in part and denying in part the parties’ motions for summary judgment. For the reasons set forth below, we affirm the district court in part and reverse in part.

I

A

The essential facts are not in dispute. In 1967, Dymo Industries, the predecessor of appellant Esselte Pendaflex Corp. (collectively “Esselte”), entered into a deal with Durs-ley Properties (“Dursley”) for the sale and leaseback of a factory…