Charter Financial, Inc. v. Eastern Bank, N.A.

van Gestel, J.

This matter is before the Court on a motion of the defendant Eastern Bank, N.A. (“Eastern”) for summary judgment, a motion of the defendant Rodman & Rodman, P.C. (“Rodman”) for summary judgment and a cross-motion of the plaintiff, Charter Financial, Inc. (“Charter”), for summary judgment. The undisputed facts upon which these motions are grounded follow.

BACKGROUND

In 1994, Eastern extended a line of credit to Foremost Printing & Office Services, Inc. (“Foremost”). By 1997, Foremost was able to draw up to $4.2 million, in addition to a $200,000 permitted overadvance, under the…