Cronel Watch, S.A. v. Peterson State Bank

MEMORANDUM AND ORDER

MORAN, District Judge.

Plaintiffs Cronel Watch and Enzo Watch (hereinafter collectively referred to as “Cronel”), bring this action as assignees of Max Jeker (“Jeker”) to recover money owed on the sale of Swiss watches and watch movements by Jeker to Mercantile Products Co., Inc. (“Mercantile”), an Illinois corporation which is now dissolved. The specific basis for this lawsuit was discussed by the court in its Memorandum and Order dated November 19, 1981. 1 Briefly, the watches were received by defendant J.E. Bernard & Co., Inc. (“Bernard”), an Illinois-licensed custom…