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INS. CO. OF NORTH AMERICA v. NORTHAMPTON NAT. BANK

No. 82-1726.

708 F.2d 13 (1983)

INSURANCE COMPANY OF NORTH AMERICA, Plaintiff, Appellant, v. NORTHAMPTON NATIONAL BANK, Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided May 23, 1983.

As Amended on Denial of Rehearing June 16, 1983.

Attorney(s) appearing for the Case

Paul W. Orth, Hartford, Conn., with whom John T. Harris and Hoppin, Carey & Powell, Hartford, Conn., were on brief, for plaintiff, appellant.

Saul Gliserman, Northampton, Mass., with whom Edward D. Etheredge, Brownell, Gliserman, Washburn, Etheredge, Gervais & Kaplan, Northampton, Mass., were on brief, for defendant, appellee.

Before ALDRICH, BOWNES and BREYER, Circuit Judges.

BAILEY ALDRICH, Senior Circuit Judge.

This is an action brought by Insurance Company of North America (INA), surety for a general contractor, M.I. O'Connor, Inc., against Northampton National Bank of Springfield, Massachusetts, to recover the amount of O'Connor's general deposit account at the time that the bank set off the account against O'Connor's overdue loan. The account consisted of part of the proceeds of a progress payment paid to O'Connor by the Wing Memorial...

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