Escalante v. Luckie

Opinion

TERRY McCALL, Justice.

Jorge Escalante is the holder of two promissory notes by American Teletronics, Inc. (ATI) to MainBank and a third promissory note by Bent Tree Group, Inc. (Bent Tree) to MainBank. Escalante had pledged certificates of deposit to Main-Bank as additional security to facilitate the loans from MainBank to ATI and Bent Tree. ATI and Bent Tree failed to pay the notes, and MainBank forced Escalante to liquidate his pledged CDs and pay the proceeds to MainBank. MainBank endorsed all three notes to Escalante. Esca-lante sued ATI and Bent Tree, as makers, and four…