STATE STREET BANK & TRUST CO. v. COM.


712 A.2d 811 (1998)

STATE STREET BANK & TRUST CO., Petitioner, v. COMMONWEALTH of Pennsylvania, TREASURY DEPARTMENT and Barbara Hafer, in her capacity as Treasurer of the Commonwealth of Pennsylvania, Respondents.

Commonwealth Court of Pennsylvania.

Decided May 26, 1998.


Attorney(s) appearing for the Case

Robert L. Byer, Pittsburgh, for petitioner.

Paul M. Yatron, Reading, for respondents.

Before COLINS, President Judge, LEADBETTER, J., and LORD, Senior Judge.


COLINS, President Judge.

Before the Court are preliminary objections filed by the Treasury Department and Barbara Hafer as Treasurer for the Commonwealth (Treasurer Hafer) to State Street Bank's (Bank) action seeking a declaration that Treasurer Hafer cannot unilaterally terminate custody and securities lending agreements between the Treasury Department and the Bank. Also before us are cross-motions for summary relief.

On November 7, 1994 the Treasury Department...

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