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MORGAN GUAR. TRUST CO. v. AMERICAN SAV. & LOAN

No. CV-83-6925-AHS.

605 F.Supp. 1086 (1985)

MORGAN GUARANTY TRUST COMPANY OF NEW YORK, a New York Corp., Plaintiff, v. AMERICAN SAVINGS AND LOAN ASSOCIATION, a California Corp., Defendant. AMERICAN SAVINGS AND LOAN ASSOCIATION, a California Corp., Third-Party Plaintiff, v. The CHASE MANHATTAN BANK, N.A., Third-Party Defendant.

United States District Court, C.D. California.

March 26, 1985.

Attorney(s) appearing for the Case

Richard K. Simon, Randall S. Rothschild, Eric L. Dobberteen, Kadison, Pfaelzer, Woodard, Quinn & Rossi, Los Angeles, Cal., for plaintiff.

Richard H. Cooper, William H. Jennings, Freshman, Mulvaney, Marantz, Comsky, Kahan & Deutsch, Beverly Hills, Cal., for defendant and third party plaintiff.

Roger A. Ferree, McCutchen, Black, Verleger & Shea, Los Angeles, Cal., for third party defendant Chase Manhattan Bank, N.A.

OPINION AND ORDER GRANTING SUMMARY JUDGMENT

STOTLER, District Judge.

SUMMARY

This action involves two bearer notes issued by plaintiff Morgan Guaranty Trust Company of New York (hereinafter, Morgan), each in the sum of $5,000,000 and evidencing an indebtedness of the Manville Corporation (hereinafter, Manville). The notes were purchased by defendant American Savings and Loan Association (hereinafter...

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