Tri-State Truck Insurance, LTD v. First National Bank of Wamego

ORDER AND JUDGMENT *

TERRENCE L. O’BRIEN, Circuit Judge.

Tri-State Trucking Insurance Ltd. (TriState) executed two commercial loan agreements to borrow over $8 million from Brooke Credit Corporation, later known as Aleritas Capital (Aleritas). Aleritas soon sold portions of the loans to other parties. Three years later, Tri-State filed suit against Aleritas in Pennsylvania state court. It alleged Aleritas had fraudulently induced Tri-State into signing the contracts. When Aleritas did not answer the complaint, the Pennsylvania court entered a default judgment which awarded damages and rescinded…