Wilmar Corp. v. Akron Tire Supply, Inc

In Wilmar Corp. v. Akron Tire Supply, Inc. (Jan. 29, 1997), 9th Dist. No. 17861, 1997 Ohio App, Bank One attempted to manage the business of its customer, Akron Tire Supply, in order to minimize losses for debts owed to several third-party creditors, including Wilmar Corp. When Wilmar realized it would not be paid by Akron Tire it brought suit against Bank One, asserting an instrumentality theory of liability. The trial court in that case granted Bank One's motion for summary judgment. In upholding the trial court's decision on appeal, the Ninth District Court of Appeals stated that there is no authority in Ohio for the "precise proposition that a bank may be held liable under an instrumentality theory of liability." However, the appellate court went on to set out the test articulated in Krivo, and stated that, even if it were to apply the theory in that case, Bank One would have no liability because there was no evidence to demonstrate the essential element of "fraud or injustice" resulting from a misuse of the lending institution's control of its debtor. Id.