KANE v. CAPITAL GUARDIAN TRUST CO.

No. 97-3030.

145 F.3d 1218 (1998)

Gerald E. KANE, Plaintiff-Appellant, v. CAPITAL GUARDIAN TRUST COMPANY, Defendant-Appellee.

United States Court of Appeals, Tenth Circuit.

June 15, 1998.


Attorney(s) appearing for the Case

John C. King, King Law Offices (John L. Brennan with him on the brief), Wichita, KS, for Plaintiff-Appellant.

Eric B. Metz, Triplett, Woolf & Garretson, LLC (Jeffrey C. Dahlgren with him on the brief), Wichita, KS, for Defendant-Appellee.

Before ANDERSON, BALDOCK, and MURPHY, Circuit Judges.


BALDOCK, Circuit Judge.

The issue in this case is whether a trust company becomes liable to the holder of an individual retirement account when the company responds to a federal tax levy against the account by liquidating the mutual fund shares in the account and remitting the cash proceeds to the Government. On the facts of this case, we hold that the trust company is not liable to the account holder.

I.

...

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