Graphics Leasing v. National Westminster Bank

The plaintiff, Graphics Leasing Corporation (“Graphics”) has brought this action against National Westminster Bank USA (“NatWest”) for damages it allegedly suffered when NatWest failed to release certain collateral which allegedly exceeded the loan formula found in the parties’ loan agreement. NatWest has counterclaimed and brought a third-parly complaint against Baystate Leasing Associates II, Inc. (“Baystate,” which is Graphics’ sister corporation and party to the loan agreement), Frank Lupacchino, president of Baystate, and Harold Gold, president of Graphics. Gold and Lupacchino had…