Diamond v. Strassberg

MEMORANDUM & ORDER

EDELSTEIN, District Judge:

Defendants move pursuant to Fed.R. Civ.P. 12(b)(6) to dismiss both counts of plaintiffs’ amended complaint. For reasons to be discussed, defendants’ motion is granted.

I. Background

The material facts are not in dispute. Plaintiff Diamond is president of Print-Art Services (“PAS”), a company which provides appraisal and auction services to companies in the printing industry. On November 13, 1986, defendant Bank of New York (“BNY”) had approved a $10 million dollar loan to a printing company, BH & P, Inc. (“BHP”) to be secured by BHP’s accounts…