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SUGARMAN v. FEDERAL INS. CO.

Docket No. 31688.

265 Cal.App.2d 563 (1968)

71 Cal. Rptr. 542

N.N. SUGARMAN et al., Plaintiffs, Cross-defendants and Appellants, v. FEDERAL INSURANCE COMPANY, Defendant, Cross-complainant and Respondent; ERNEST E. WEBB, as Director of Industrial Relations, et al., Defendants, Cross-defendants and Respondents.

Court of Appeals of California, Second District, Division Two.

September 10, 1968.

Attorney(s) appearing for the Case

David L. Sefman and David Turner for Plaintiffs, Cross-defendants and Appellants.

Clopton & Penny and Mort L. Clopton for Defendant Cross-complainant and Respondent.

Thomas C. Lynch, Attorney General, and Edward M. Belasco, Deputy Attorney General, for Defendants, Cross-defendants and Respondents.

HERNDON, J.

This is an appeal from a judgment declaring that appellants as the successors to Walker Mining Company are the owners of certain stocks and cash presently held by respondent Federal Insurance Company, but that appellants are not presently entitled to delivery of this property because it serves as collateral to offset all liability for workmen's compensation claims to which Federal may be exposed by virtue of a guaranty bond which its predecessor had furnished...

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