FIRST METROPOLITAN BANK v. PLAIA

No. 10914.

384 So.2d 560 (1980)

FIRST METROPOLITAN BANK v. Peter A. PLAIA et al.

Court of Appeal of Louisiana, Fourth Circuit.

Rehearing Denied June 20, 1980.

Writs Granted July 7, 1980.


Attorney(s) appearing for the Case

A. Morgan Brian, Jr., Brian, Simon, Peragine, Smith & Redfearn, New Orleans, for defendants-appellees, Exchange Oil & Gas Corp. and Hibernia National Bank.

Harry A. Rosenberg, Phelps, Dunbar, Marks, Claverie & Sims, New Orleans, for defendants-appellees, Howard, Weil, Labouisse, Fredricks, Inc.

Marian Mayer Berkett, Deutsch, Kerrigan & Stiles, New Orleans, for defendantappellee, Hycel, Inc.

Bruce A. North, Molony, Nolan, North, Riess & Hall, New Orleans, for plaintiff-appellant.

Before SAMUEL, SCHOTT and HOOD, Assigned, JJ.


SCHOTT, Judge.

This is a suit for damages incurred by First Metropolitan Bank in connection with certificates of stock in Hycel, Inc. and Exchange Oil & Gas Corporation. Plaintiff had taken the stock in pledge from Peter A. Plaia to secure a loan. When Plaia defaulted plaintiff delivered the certificates to its broker, Howard, Weil, Labouisse, Fredricks, Inc. (hereafter "Howard") with instructions to sell the stock for plaintiff's account. But when Howard sold...

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