ROCHESTER, NEW YORK - Eastman Kodak Company is suing a North Carolina bank in an effort to recover a $30 million loan to an Atlanta-based photography retailer that filed for bankruptcy protection last year. <br>
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The loan to Wolf Camera Incorporated was intended to pay for new stores, store renovations and acquisitions but, Kodak alleged, was used instead by one of Wolf Camera's largest creditors, First Union National Bank of Charlotte, North Carolina, to pay off debts. <br>
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The world's biggest photography company is suing Wachovia Bank National Association, as First Union is now known after a merger, for fraud, breach of contract and contractual interference. <br>
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The lawsuit, filed in Rochester, New York this week in state Supreme Court, also seeks unspecified compensatory and punitive damages.
http://accesswdun.com/article/2002/8/191566
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