EDWARDS v. NORTHWESTERN BANK

No. 7714SC851.

250 S.E.2d 651 (1979)

39 N.C. App. 261

Rudolph L. EDWARDS, Receiver of Durham Wholesale Catalog Co., Inc. v. The NORTHWESTERN BANK, Alpha Beta Corporation, Empire Properties, Inc., Valco, Inc., Presidential Apartments, Inc., Robert I. Lipton, Abe Greenberg, and C. Paul Roberts.

Court of Appeals of North Carolina.

January 2, 1979.


Attorney(s) appearing for the Case

Randall, Yaeger & Woodson by John C. Randall, Durham, for receiver.

Jordan, Wright, Nichols, Caffrey & Hill by Edward L. Murrelle and Robert D. Albergotti, Greensboro, for The Northwestern Bank.


BROCK, Chief Judge.

In this appeal from the summary judgment in favor of The Northwestern Bank (Bank) the Receiver argues three propositions:

1. That the Bank failed to show that there was no genuine issue as to any material fact and that it was entitled to judgment as a matter of law with respect to the Receiver's assertion that the Bank permitted the fiduciary of Durham Wholesale to divert and misapply $250,000.00 of corporate funds with actual knowledge...

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