McREYNOLDS v. CHEROKEE INS. CO.


896 S.W.2d 137 (1994)

Elaine McREYNOLDS, Commissioner of Commerce and Insurance for the State of Tennessee as Receiver for Cherokee Insurance Company, Petitioner, v. CHEROKEE INSURANCE COMPANY, Respondent. David S. WEED, Special Deputy Commissioner of Insurance for the Rehabilitation of Cherokee Insurance Company, Plaintiff/Appellee, v. DIAMOND FINANCIAL HOLDINGS, INC., Defendant/Appellant.

Court of Appeals of Tennessee, Western Section at Nashville.

Application for Permission to Appeal Denied February 6, 1995.


Attorney(s) appearing for the Case

Val Sanford, Gullett, Sanford, Robinson & Martin, Nashville, John Deq. Briggs, III, Michael J. Hurley, Howrey & Simon, Washington, DC, for defendant/appellant.

Michael L. Dagley, Farris, Warfield & Kanaday, Nashville, for plaintiff/appellee.


Application for Permission to Appeal Denied by Supreme Court February 6, 1995.

FARMER, Judge.

This case asks us to determine the rightful owner to the proceeds of a $4.2 million letter of credit. The trial court granted summary judgment in favor of the appellee, David S. Weed1 and denied summary judgment for the appellant, Diamond Financial Holdings, Inc. (Diamond). Diamond appeals and presents the following issue for consideration...

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