Cetera Advisor Networks LLC v. Protective Property and Casualty Ins. Co.
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT EASTERN DISTRICT OF CALIFORNIA 10 CETERA ADVISOR NETWORKS, LLC, No. 2:19-cv-0299-JAM-EFB Plaintiff-in-interpleader, v. ORDER GRANTING IN PART AND
DENYING IN PART CETERA ADVISOR’S
PROTECTIVE PROPERTY AND EX PARTE APPLICATION CASUALTY INSURANCE COMPANY, a Missouri corporation; CAL CAPITAL LIMITED, an alien corporation; and GERALD B. GLAZER, an individual, 17 Defendants-in-interpleader.
19 Cetera Advisor Networks LLC (“Cetera”) is the custodian of a 20 brokerage account with over $450,000.00 in assets (“Account”). 21 After a decade long business relationship, Protective Property & 22 Casualty Insurance Company (“Protective”) and Cal Capital Limited 23 (“Cal Capital”) presented conflicting claims of ownership to 24 funds within the Account. Id. In December 2019, Cetera filed a 25 motion for interpleader deposit requesting the Court allow 26 deposit of the disputed funds, grant judgment on Cetera’s 27 interpleader action, and award Cetera costs and attorney’s fees. 28 ECF No. 47. The Court only granted Cetera a portion…