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PAVILION HOTEL, INC. v. VALLEY NAT. BANK

No. 1 CA-CV 92-0056.

180 Ariz. 498 (1994)

885 P.2d 186

PAVILION HOTEL, INC., an Arizona corporation, and Pavilion Services, Inc., an Arizona corporation, Plaintiffs-Counter-defendants/Third Party Defendants-Appellants, v. The VALLEY NATIONAL BANK OF ARIZONA, a national banking association, Defendant, Counter-claimant/Third Party Plaintiff-Appellee, and The Mutual Life Insurance Company of New York, a New York corporation, Third Party Defendant, Third Party Plaintiff-Appellee.

Court of Appeals of Arizona, Division 1, Department B.

November 17, 1994.

Attorney(s) appearing for the Case

Warnicke & Littler by Thomas E. Littler, Phoenix, for appellants.

Snell & Wilmer by Lonnie J. Williams Jr., Patricia A. Kirtley, Phoenix, for appellees.

OPINION

WEISBERG, Presiding Judge.

This lawsuit involves several bank accounts held at Valley National Bank of Arizona ("VNB") in the name of Pavilion Hotel, Inc. ("PHI") and Pavilion Services, Inc. ("PSI"). Mutual Life Insurance Company of New York ("MONY") claims that it is entitled to the accounts pursuant to a security agreement between it and PHI. PHI and PSI appeal the granting of summary judgment in favor of MONY and the discharge of garnishee VNB from...

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