White
White v. Pacific Southwest Trust & Savings Bank
Opinion
Lead Opinion
McCormick, J.
By these suits in equity the trustee of the bankrupt estates of E. Y. Foley and E. Y. Foley, Inc., a corporation, seeks to recover from the two defendant banks certain money for the benefit of said estates. Action was brought by the trustee against each bank separately, but for expedition and by stipulation of all parties the causes were heard simultaneously, inasmuch as the paramount issues were the same in each case. However, there was no consolidation of the cases, and each cause has received separate consideration, as some issues are not common to both defendants.
The main question is the right of the banks to retain, in the case of the Pacific *652 Southwest Trust & Savings Bank $127,433.76, and in the ease of the United Bank & Trust Company of California $41,171.03, to the exclusion of the estates and the creditors in general thereof. Incidentally there has been brought into the case in which- the Pacific Southwest Trust & Savings Bank is defendant issues between one Lynes, as trustee^ of certain Eastern creditors of E. Y. Foley and E. Y. Foley, Inc., a corporation, and the plaintiff, as to the money sued for in the event that it is held that the defendant Pacific Southwest…