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GALDO v. FIRST PENN. BANK N.A.

250 Pa.Super. 385 (1977)

378 A.2d 990

Joseph J. GALDO and Rosanna M. Galdo, Plaintiffs and Martin Cohen and Ben Weinstein, Intervenors-Plaintiffs, v. FIRST PENNSYLVANIA BANK N.A., Appellant, v. Martin COHEN, Jerome J. Drucker, Norman Wolgin, S. Theodore Blumenfeld, Scientific Resources Corp., a/k/a Atlas Credit Corp. or Sunasco, Inc., Hilco Homes Corp. and Atlas Financial Corp.

Superior Court of Pennsylvania.

Decided October 6, 1977.

Attorney(s) appearing for the Case

Eugene F. Waye, Philadelphia, for appellant.

Michael S. Bomstein, Philadelphia, for appellee, Cohen.

Jerome J. Drucker, appellee, in propria persona.

Michael H. Applebaum, Huntingdon Valley, for additional defendants, Hilco Homes Corp. and Atlas Financial Corp.

Before WATKINS, President Judge, and JACOBS, CERCONE, PRICE, VAN der VOORT and SPAETH, JJ.

VAN der VOORT, Judge:

The appellant, First Pennsylvania Bank, N.A. (Bank), was the trustee under an indenture relating to convertible subordinated debentures issued by Hilco Homes Corporation (Hilco). Joseph and Rosanna Galdo were owners of $300 in principal amount of the corporate 6 1/2% bonds. On August 13, 1974, the Galdos filed a complaint which contained two counts, one in assumpsit and one in trespass, against the Bank claiming that the Bank breached its contractual...

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