United States v. Trans-World Bank

FINDINGS OF FACT AND CONCLUSIONS OF LAW

Plaintiff, United States of America, filed suit seeking to have this Court declare Defendant, Trans-World Bank (hereafter “Defendant-Bank”) personally liable for its refusal to honor an Internal Revenue Service levy served upon it on November 1, 1971. In addition, Plaintiff requested that.a penalty equal to fifty percent (50%) of the amount recoverable under the levy be imposed against Defendant-Bank, since it acted without “reasonable cause” in failing to honor the levy.

On May 3, 1974, Plaintiff filed its motion for summary judgment supported by a memorandum of points and authorities and attached exhibits. Thereafter, on May 20, 1974, Defendant-Bank filed its points and authorities in opposition to Plaintiff’s motion. The matter was heard by this Court on June 10, 1974. Assistant United States Attorney Authur M. Greenwald appeared for Plaintiff and Attorney Morris L. Davidson appeared for Defendant-Bank.

Defendant-Bank, through its attorney, Morris L. Davidson, represented to the Court at the June 10, 1974 hearing that there were no genuine issues of material fact to be resolved. Prior to the hearing, Defendant-Bank did not file a…