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TRANSAMERICA INS. CO. v. WHITNEY NATIONAL BANK OF NEW ORLEANS

No. 48667.

206 So.2d 500 (1968)

251 La. 800

TRANSAMERICA INSURANCE COMPANY et al. v. WHITNEY NATIONAL BANK OF NEW ORLEANS.

Supreme Court of Louisiana.

Rehearing Denied February 19, 1968.

Attorney(s) appearing for the Case

Malcolm L. Monroe, Walter J. Suthon, III, Richard P. Wolfe, Monroe & Lemann, New Orleans, for relator.

R. Emmett Kerrigan, Marian Mayer Berkett, Deutsch, Kerrigan & Stiles, New Orleans, for respondents.

SUMMERS, Justice.

In September 1962 Whitney National Bank of New Orleans made a series of loans aggregating $3,402,320 to Allied Crude Vegetable Oil Refining Corporation of Bayonne, New Jersey. The notes representing the loan were made payable in New Orleans. As security therefor, Allied Crude delivered warehouse receipts issued by American Express Warehousing Ltd. and others for over 40,000,000 pounds of soybean oil purportedly...

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