FIRST NATIONAL CITY BANK v. COMPANIA de AGUACEROS, S. A.

No. 24137.

398 F.2d 779 (1968)

FIRST NATIONAL CITY BANK, Appellant, v. COMPANIA de AGUACEROS, S. A., Appellee.

United States Court of Appeals Fifth Circuit.

Rehearing Denied March 27, 1968.


Attorney(s) appearing for the Case

Richard B. Montgomery, Jr., New Orleans, La., L. S. Carrington, Balboa, Canal Zone, Arnold Y. Claman, New York City, Guillermo Jurado, Republic of Panama, Bigham, Englar, Jones & Houston, New York City, Montgomery, Barnett, Brown & Read, New Orleans, La., for appellant, First National City Bank.

Henry L. Newell, Balboa, Canal Zone, Harry McCall, Jr., Gibbons Burke, Chaffe, McCall, Phillips, Burke, Toler & Hopkins, New Orleans, La., for appellee, Compania de Aguaceros, S.A.

Before RIVES, GOLDBERG and AINSWORTH, Circuit Judges.


GOLDBERG, Circuit Judge:

This case concerns the liability vel non of the First National City Bank of New York (Bank) for having cashed forged checks of the Compania de Aguaceros, S. A., (Depositor). The villainous artful forger, Carlos Echeverria, has clouded the equities between the two protagonists not only by his consummate calligraphic talents but also by his position as the Depositor's agent and auditor in Panama. The district court below discarded a relevant...

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