Williams v. California 1st Bank

859 F.2d 664 19 Collier Bankr.Cas.2d 922 , 18 Bankr.Ct.Dec. 832 , Bankr. L. Rep. P 72,463 Ardelle WILLIAMS, as trustee of the estate of Chacklan Enterprises, Inc., Bankruptcy Case No. 84-050450M7 on behalf of certain investors, Plaintiff-Appellee, v. CALIFORNIA 1ST BANK, a federal bank, Defendant-Appellant. No. 87-6430. United States Court of Appeals, Ninth Circuit. Argued and Submitted May 4, 1988. Decided Oct. 6, 1988. Matthew V. Herron, Meisenheimer and Herron, San Diego, Cal., for plaintiff-appellee. Arnold Quittner, Herbert Katz, Gendel, Raskoff, Shapiro & Quittner, Los Angeles, Cal., for defendant-appellant. Appeal from the United States District Court for the Southern District of California. Before GOODWIN, FLETCHER and FARRIS, Circuit Judges. FLETCHER, Circuit Judge: 1 This is an interlocutory appeal from two orders, one denying a motion to dismiss, the other denying summary judgment. Appellee Ardelle Williams, a trustee in bankruptcy (Trustee), filed an action for violation of the federal securities laws against California First Bank (CFB or Bank) on behalf of the bankrupt's estate. Appellant CFB filed two motions in response: (1) a motion to dismiss on the ground…