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Bremer Bank v. John Hancock Life Insurance Co.

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Submitted: March 10, 2010

Before RILEY, Chief Judge,*fn1 JOHN R. GIBSON and MURPHY, Circuit Judges.

Appellant Bremer Bank (Bremer), the owner of an aircraft leased to and operated by Northwest Airlines Corporation (NWA), brought this action against John Hancock Life Insurance Company (Hancock), which represented a majority interest in the loan that furnished eighty percent of the purchase price of the aircraft, and U.S. Bank (USB). Bremer alleges that in the aftermath of NWA’s bankruptcy filing, its equity in the aircraft and lease were improperly extinguished by USB, acting on Hancock’s instructions. The district court*fn2 granted summary judgment to Hancock and USB and denied Bremer’s motion for summary judgment on its contract claims. Bremer appeals. We affirm.

 
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