K.M.C. Co. v. Irving Trust Co.

757 F.2d 752 (6th Cir. 1985)

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Nature of the Case

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Facts

K.M.C. (P) was engaged in the wholesale and retail grocery business. Irving (D) held provided all of P's financing. As per agreement, on March 1, 1982, D refused to advance P monies as per the agreement. P sued D for breach alleging that D's refusal was responsible for P's collapse as a business entity. D claimed that P was already collapsing when D refused to provide more funds. The jury trial resulted in a $7.5-million-dollar reward for P. D appealed.