CONTINENTAL BANK & T. CO. v. ST. PAUL FIRE & M. INS. CO.

No. 14109.

550 P.2d 222 (1976)

The CONTINENTAL BANK AND TRUST COMPANY, a Utah Corporation, Plaintiff and Appellant, v. ST. PAUL FIRE AND MARINE INSURANCE COMPANY, a Minnesota Corporation, Defendant and Respondent.

Supreme Court of Utah.

May 21, 1976.


Attorney(s) appearing for the Case

Albert J. Colton, Glen E. Clark and Peter W. Billings, Jr., Fabian & Clendenin, Salt Lake City, for plaintiff and appellant.

Joseph J. Palmer and Wayne G. Petty, Moyle & Draper, Salt Lake City, for defendant and respondent.


ELLETT, Justice:

Plaintiff Bank brought an action seeking indemnity under a banker's blanket bond. Defendant underwriter moved for a summary judgment, which was granted. The plaintiff appeals seeking a trial on the merits.

Plaintiff's allegations were these: That in April of 1971, Clark Tank Lines Company, Inc. and Service Tank Lines, Inc. sued plaintiff for damages in excess of $600,000, alleging the loss was occasioned by the actions of one J. Moroni Stoof...

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