JUDGE DENIES DISMISSAL OF HUNT LOAN CHALLENGE
A federal judge has denied motions by
several banks for summary dismissal of lawsuits challenging the
loans they made to the Hunt brothers' two energy companies.
    Nelson Bunker, W. Herbert and Lamar Hunt sued the 23 banks
last year for 13.8 billion dlrs in damages after halting
payment to the banks on 1.5 billon dlrs in overdue loans to
<Placid Oil Co> and <Penrod Drilling Co>.
    The ruling announced Thursday by Judge Barefoot Sanders
clears the way for the Hunts to examine documents and interview
officers at the banks seeking evidence to support their charges
of fraud, breach of fiduciary duty and interfering with the
companies ability to pay back the loans.
    Judge Sanders also rejected parts of the Unts' suit,
including allegations the banks were trying to monopolize the
drilling-rig business.
    He reserved judgment on other Placid and Penrod complaints,
including charges the banks acted in bad faith on the loans.
 Reuter
