CHEMUNG CANAL TRUST CO. v. SOVRAN BANK/MARYLAND

No. 1624, Docket 91-7194.

939 F.2d 12 (1991)

CHEMUNG CANAL TRUST COMPANY, as Trustee of the Fairway Spring Company, Inc. Restated Pension Plan; William H. Brown; Joseph R. Peters, Plaintiffs, Chemung Canal Trust Company, as Trustee of the Fairway Spring Company, Inc. Restated Pension Plan, Plaintiff-Appellee, v. SOVRAN BANK/MARYLAND, Defendant-Appellant. SOVRAN BANK/MARYLAND, Third-Party Plaintiff-Appellant, 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 and Director of Fairway Spring Co., Inc.; John Doe; Jane Doe, as members of the Investment Committee of the Fairway Spring Co., Inc. Restated Retirement Income Plan; Lynn G. Keyser, Third-Party Defendants, Fairway Spring Co., Inc.; Theodore Peterson, as Director of Fairway Spring Co., Inc.; Donald R. Peterson, as Vice President and Director of Fairway Spring Co., Inc.; Dorothy Tarby, as Secretary-Treasurer and Director of Fairway Spring Co., Inc. and Lynn G. Keyser, Third-Party Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided July 25, 1991.


Attorney(s) appearing for the Case

William F. Hanrahan, Washington, D.C. (Groom and Nordberg, Chtd., Robert P. Gallagher, Stephen M. Saxon, Lonie Hassel, of counsel), for third-party plaintiff-appellant.

Kenneth A. Payment, Rochester, N.Y. (Harter, Secrest & Emery, Robert F. Pizzo, of counsel), for third-party defendants-appellees.

Edward B. Hoffman, Elmira, N.Y. (Sayles, Evans, Brayton, Palmer & Tifft, Donna L. Mitchell), for plaintiff-appellee.

Before OAKES, Chief Judge, and PRATT and ALTIMARI, Circuit Judges.


GEORGE C. PRATT, Circuit Judge:

Defendant-third-party plaintiff-appellant Sovran Bank/Maryland ("Sovran") appeals from a judgment of the United States District Court for the Western District of New York, Michael A. Telesca, Chief Judge, entered pursuant to a certification under Fed.R.Civ.P. 54(b). The judgment dismissed Sovran's counterclaim and third-party complaint based on the court's holdings that (1) as a former fiduciary, Sovran had no standing to sue...

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