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AETNA LIFE & CASUALTY CO. v. UNION TRUST CO.

(14903)

230 Conn. 779 (1994)

AETNA LIFE AND CASUALTY COMPANY v. UNION TRUST COMPANY

Supreme Court of Connecticut.

Decision released August 16, 1994.

Attorney(s) appearing for the Case

William H. Narwold, with whom were Charles D. Ray and, on the brief, David D. Legere, for the appellant (defendant).

J. Paul Johnson, with whom was Gary R. Khachian, for the appellee (plaintiff).

BORDEN, BERDON, KATZ, PALMER and SPEAR, JS.

BORDEN, J.

The principal issue in this appeal is whether, under the circumstances of this case, a bank is liable to a trust beneficiary for obeying the fiduciary's instruction to transfer funds out of the fiduciary's general trust account in payment of the fiduciary's personal obligation to the bank. The defendant, Union Trust Company, appeals1 from the judgment of the trial court holding it liable to the subrogee of the trust beneficiary...

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