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LA. ST. SCH. LUNCH v. LEGEL, BRASWELL GOVERN. SEC.

No. 82-5299.

699 F.2d 512 (1983)

LOUISIANA STATE SCHOOL LUNCH EMPLOYEES RETIREMENT SYSTEM, Plaintiff-Appellant, v. LEGEL, BRASWELL GOVERNMENT SECURITIES CORPORATION and Irving Trust Company, Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

March 3, 1983.

Attorney(s) appearing for the Case

Bennett Falk, Ruden, Barnett, McClosky, Schuster & Russell, Miami, Fla., for plaintiff-appellant.

Friedman, Britton, Cohen, Kaufman, Zinkow, Benson & Schantz, John L. Britton, Miami, Fla., for defendants-appellees.

Before RONEY and JOHNSON, Circuit Judges, and DYER, Senior Circuit Judge.

RONEY, Circuit Judge:

In this case, Louisiana State School Lunch Employees Retirement System (Louisiana) sued Irving Trust Company for conversion of bonds worth $291,000. The central question is whether the bonds had been "delivered" to Louisiana so that the subsequent sale by Irving Trust for its own security interest amounted to a conversion of Louisiana's bonds. Concluding that delivery had occurred within the meaning of § 8-313(1)(c) of the New York version...

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