Printer Sues After Financing Is Pulled –Michelson

“This lawsuit is not just about Color-Web’s claim against a bank,” notes Moyal. “If our bank is allowed to renege on a commitment to us, then any business’ bank will be able to renege on a commitment to them. Banks, as licensed institutions, should be held to a higher standard, and a signed commitment should be followed through on. 1800Postcards.com signed its first notes (with the same lender) in 2003—and we honored those commitments, in spite of the economic downturn that ensued.”