CHEMUNG CANAL TRUST CO. v. SOVRAN BANK/MARYLAND

No. CIV-90-0013T.

753 F.Supp. 81 (1990)

CHEMUNG CANAL TRUST COMPANY, As Trustee of the Fairway Spring Company, Inc., Restated Pension Plan, William H. Brown and Joseph R. Peters, Plaintiffs, v. SOVRAN BANK/MARYLAND, Defendant and Third-Party Plaintiff, v. FAIRWAY SPRING CO., INC., Theodore Peterson, As President and Director of Fairway Spring Co., Inc., Donald R. Peterson, As Vice-President and Director of Fairway Spring Co., Inc., Dorothy Tarby, As Secretary-Treasurer of Fairway Spring Co., Inc., and John Doe and Jane Doe, As Members of the Investment Committee of the Fairway Spring Company, Inc., Restated Retirement Income Plan, and Lynn Keyser, Third-Party Defendants.

United States District Court, W.D. New York.

December 27, 1990.


Attorney(s) appearing for the Case

Edward B. Hoffman, Sayles, Evanas, Trayton, Palmer & Tifft, Elmira, N.Y., for plaintiffs.

Anthony Daniele, Rochester, N.Y., for defendant and third-party plaintiff.

Kenneth A. Payment, Harter, Secrest & Emery, Rochester, N.Y., for third-party defendants.


DECISION AND ORDER

TELESCA, Chief Judge.

INTRODUCTION

The Chemung Canal Trust Company (Chemung), as the present trustee of the Fairway Spring Company, Inc. Restated Pension Plan (the Plan), and two beneficiaries of the Plan brought this action against Sovran Bank/Maryland (Sovran) pursuant to the Employee Retirement Income Security Act (ERISA). Plaintiffs allege that Sovran, which was trustee of the Plan immediately prior to Chemung, breached its...

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