Blount Financial Services Inc. v. Heller
By United States Court Of Appeals For The Sixth Circuit
- Release Date: 1987-05-27
- Genre: Law
Blount Financial Services Inc. v. Heller United States Court Of Appeals For The Sixth Circuit Book Review Score: ★★★★★ 5/5 stars
Plaintiffs sue the two defendants for violation of the Sherman Act and the Racketeer Influence and Corrupt Organizations Act, "RICO," in an action arising from a financing contract in which the defendant, Heller, loaned money to plaintiffs for their industrial thrift operations. The contract provided for interest based on adjusting upward the rate that the Continental Illinois Bank charged its most credit worthy customers. The gravamen of the case is that plaintiff was forced out of business because Heller charged a rate of interest which was illegal under the contract between the parties.
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