Bank of America v. Musselman

MEMORANDUM OPINION

ELLIS, District Judge.

This diversity action grows out of a debtor’s default on an eleven million dollar bank loan. Among the bank’s various claims in this action is a third-party beneficiary contract claim against, the debtor’s accounting firm for professional malpractice. At issue on summary judgment is whether the record evidence presents a triable issue of fact concerning whether the bank was an intended third-party beneficiary of the debtor’s contract with the accounting firm for accounting services.

I

In November 1997, plaintiff, Bank of America (the “Bank”), 1 a North…