ECCO, Ltd. v. Balimoy Manufacturing Co.

As relevant to the present appeal, this case involves claims by ECCO Limited and KLZ Screw Products Company against Central Savings Bank. ECCO and KLZ supplied parts and materials to Balimoy Manufacturing Company, a munitions manufacturer under contract with the United States Department of Defense. To alleviate suppliers’ concerns about Balimoy’s solvency, Central Savings Bank agreed to receive Balimoy’s payments from the government and to pay the suppliers on behalf of Balimoy. Balimoy closed in 1982, prompting this action to recover monies owed. The case was eventually tried to a jury on…