OLD SEC. LIFE INS. v. CONTINENTAL ILL. NAT. BANK

Nos. 82-3067, 82-3068.

740 F.2d 1384 (1984)

OLD SECURITY LIFE INSURANCE COMPANY, et al., Plaintiffs-Appellees, v. CONTINENTAL ILLINOIS NATIONAL BANK AND TRUST CO. OF CHICAGO, Defendant-Appellant. Robert J. BAKER, et al., As Trustees of Central States, Southeast and Southwest Areas Health and Welfare Fund, Intervening Plaintiffs-Appellees, v. OLD SECURITY LIFE INSURANCE COMPANY, et al., Intervening Defendants-Appellants, and Continental Illinois National Bank and Trust Co. of Chicago, Intervening Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided July 24, 1984.

Rehearing and Rehearing Denied August 30, 1984.


Attorney(s) appearing for the Case

Gary M. Elden, Reuben & Proctor, Chicago, Ill., for plaintiffs-appellees.

James L. Coghlan, Coghlan, Joyce, Nellis & Kelly, Chicago, Ill., for intervening plaintiffs-appellees.

Stephen M. Shapiro, Mayer, Brown & Platt, Chicago, Ill., for defendant-appellant.

Before ESCHBACH and FLAUM, Circuit Judges, and SWYGERT, Senior Circuit Judge.


Rehearing and Rehearing In Banc Denied August 30, 1984.

ESCHBACH, Circuit Judge.

Old Security Life Insurance Company ("Old Security") brought this diversity action against Continental Illinois National Bank and Trust Company ("Continental") to recover $1.5 million allegedly transferred by the bank from Old Security's account without authorization. The Trustees of the Central States, Southeast and Southwest Areas Health and Welfare Fund

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