NAT. CREDIT UNION ADMIN. v. MICH. NAT. BANK

Nos. 84-1112, 84-1162 and 84-1163.

771 F.2d 154 (1985)

NATIONAL CREDIT UNION ADMINISTRATION, Plaintiff-Appellant (84-1112, 84-1163), Cross-Appellee (84-1162), v. MICHIGAN NATIONAL BANK OF DETROIT, Defendant-Appellee (84-1112), Cross Appellant (84-1162), Security Bank and Trust Co., Defendant-Appellee (84-1163).

United States Court of Appeals, Sixth Circuit.

Decided August 27, 1985.


Attorney(s) appearing for the Case

Richard K. Willard, J. Christopher Kohn, Robert M. Hollis, Mark D. Friedman, Civil Div., Dept. of Justice, Anthony J. Steinmeyer, Mark B. Stern (argued), Washington, D.C., for plaintiff-appellant.

F. Philip Colista, Colista, Green & Adams, Detroit, Mich., Charles A. LeFevre, Columbo & Columbo, Birmingham, Mich., Todd J. Mikesells (argued), Harry F. Vellmure, Sec. Bank & Trust, Allen Park, Mich., John R. Spreitzer (argued), Clawson, Mich., Paul J. Schwab, Davidson, Gotschall, Kohn, Secrest, Wardly, Lynch and Clark, Farmington Hills, Mich., Alan Goldstein, Goldstein, Goldstein and Bershad, Southfield, Mich., Jack C. Chilingirian, Mount Clemens, Mich., Phil Ruggeri, Sterling Heights, Mich., John F. Milan, Harvey, Kruse, Westen and Milan, Detroit, Mich., for defendant-appellee.

Before KEITH and MARTIN, Circuit Judges; and PHILLIPS, Senior Circuit Judge.


BOYCE F. MARTIN, Jr., Circuit Judge.

This appeal requires us to determine the appropriate analysis for allocating loss on a check that bears a forged drawer's signature and also lacks the indorsement of the named payee. We approve and adopt the rationale developed by the Fifth Circuit in Perini Corp. v. First National Bank, 553 F.2d 398 (5th Cir.1977).

This controversy arose out of a scheme in which employees of the...

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