Fortress Systems, LLC v. Bank of the West
United States District Court for the District of Nebraska
2008 WL 64690 (2008)
Fortress Systems, LLC (Fortress) (plaintiff) sought equipment financing from Bank of the West (Bank) (defendant). The Bank told Fortress that if it adhered to the Bank’s requirements, then the loan would be approved. The loan terms were documented in a commitment letter, and the loan was set to close. However, the Bank subsequently learned that Fortress was in the midst of a shareholder litigation suit. The loan closing was stalled. However, the Bank indicated that if the lawsuit was settled, then the loan would close. The Bank continued to request financial information from Fortress, and Fortress entered into a proposed settlement agreement with the parties to the shareholder litigation suit. Fortress also entered into a building contract based on the belief that the loan would close, and Fortress invested its own money in the construction per the Bank’s requirements. The Bank then told Fortress that it would not fund the loan. Fortress sued the Bank for promissory estoppel, and the jury returned specific factual findings.
Rule of Law
Holding and Reasoning (Bataillion, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 170,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 13,800 briefs, keyed to 187 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.