Wainwright Bank & Trust Co. v. Rawan

Wainwright Bank & Trust Company (“the Bank”) filed the instant action against defendants Douglas and Christine Rawan ("the Rawans”) seeking sums allegedly due under a mortgage note. The Rawans filed counterclaims against the Bank. The Bank flied this motion for summary judgment on December 26, 1997, and on March 20, 1998, this Court held a hearing on plaintiffs motion. For the reasons that follow, plaintiffs motion is ALLOWED in part, and DENIED in part.

BACKGROUND

In 1988, Douglas M. Rawan, as Trustee of the Cross Street Really Trust, obtained from the Bank a line of credit in the amount of…