Credit Managers Assn. v. Superior Court

Credit Managers Association of Southern California (Credit Managers) filed a petition for writ of mandate naming the Superior Court of Los Angeles County (Court) as respondent and Security Pacific National Bank, a national banking association, formerly known as Security First National Bank, a national banking association (Bank), First Small Business Investment Company of California (Investment Company), and Mordy and Company (Mordy) as the real parties in interest. We issued an alternative writ and Mordy appeared by answer and demurrer.- Bank and Investment Company did not respond.

The petition alleges that on July 15, 1974, Credit Managers filed a complaint for “Breach of Fiduciary Duty and Conspiracy” in respondent Court to which Bank and Investment Company filed an answer but Mordy filed a demurrer, Court sustained the demurrer and Credit Managers filed a first amended complaint for “Breach of Fiduciary Duty Negligence and Conspiracy” on October 23, 1974 (a copy of which is attached to the petition). Bank, Investment Company and Mordy all demurred and the demurrer of Mordy was sustained on December 9, 1974, with 30 days to amend. The demurrers of Bank and Investment…