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Corporations Keyed to O’Kelley
General Overseas Films, Ltd. v. Robin International, Inc.
Citation:
542 F. Supp. 684 (1982)Facts
In 1976, Nicholas Reisini approached Robert Haggiag, whom he had known since 1955, for a loan of $500,000 to Robin, a company that Reisini owned and controlled. Haggiag, an international film producer, was and is solely empowered and responsible for the operations of GOF. Haggiag agreed on behalf of GOF to lend Robin and Reisini $500,000 for the purpose of settling the claims against Robin. Reisini introduced Haggiag to Charles Kraft, who was then Vice-President and Treasurer to Anaconda. Kraft told Haggiag that Anaconda would guarantee Robin’s debt to GOD for up to $1,000,000. Reisini agreed to give GOF a note. Shortly before September 13, 1977, Reisini again told Haggiag that he did not have the cash to pay the note. Haggiag later demanded payment, but Robin and Reisini had not paid. GOF is therefore seeking to recover from Anaconda on the basis of the guarantee executed by Kraft in Anaconda’s name.
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