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FIELD v. BANKERS TRUST COMPANY

No. 32, Docket 26554.

296 F.2d 109 (1961)

Carl M. FIELD, as Trustee in Bankruptcy in the Estate of Giant Outlet Market, Inc., Bankrupt, Plaintiff-Appellant, v. BANKERS TRUST COMPANY and First National City Bank of New York, Defendants-Appellees, Martin Lew, Morrie Lew, Abraham Schneider and Household Finance Corporation, Defendants.

United States Court of Appeals Second Circuit.

Decided November 8, 1961.

Rehearing Denied December 7, 1961.

Attorney(s) appearing for the Case

Jacob Oliner, New York City, for plaintiff-appellant.

Arnold A. Jaffe, New York City (Morris A. Mondschein and Moses & Singer, New York City, on the brief), for defendant-appellee Bankers Trust Co.

J. Robert Lunney, New York City (Shearman & Sterling, New York City, on the brief), for defendant-appellee First Nat. City Bank of New York.

Before LUMBARD, Chief Judge, and FRIENDLY and SMITH, Circuit Judges.

LUMBARD, Chief Judge.

The trustee in bankruptcy appeals from a dismissal by the district court of his suit to recover money from two banks on the theory that the banks were chargeable with knowledge that misappropriations by the bankrupt corporation's president impaired its capital in violation of New York Stock Corporation Law, McKinney's Consol. Laws, c. 59, § 58.

Giant Outlet Market, Inc. (Giant) operated a farmers market in Brooklyn, New York, until...

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