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BANK OF NEW YORK v. JANOWICK

Nos. 05-6390, 05-6456.

470 F.3d 264 (2006)

BANK OF NEW YORK, as former Trustee for National-Southwire Company Pension Plan, Plaintiff, Southwire Company, Defendant-Appellee, v. John Stephen JANOWICK, Gary Erwin, and Merl Kannapel, on behalf of themselves and as the representatives of a class of current and deferred annuitants of Prudential Group Annuity Contracts GA 5543 and GA 5542, Defendants-Appellants (05-6390), Century Aluminum Company, Defendant-Appellant (05-6456).

United States Court of Appeals, Sixth Circuit.

Decided and Filed: November 22, 2006.

Attorney(s) appearing for the Case

ARGUED: Leon Dayan, Bredhoff & Kaiser, Washington, DC, for Appellants. Mark S. Riddle, Greenebaum, Doll & McDonald, Louisville, Kentucky, for Appellee. ON BRIEF: Michael C. Merrick, Frank P. Doheny, Jr., Dinsmore & Shohl, Louisville, Kentucky, Leon Dayan, Lisa M. Powell, Bredhoff & Kaiser, Washington, D.C., for Appellants. Mark S. Riddle, Melissa Norman Bork, Benjamin J. Evans, Greenebaum, Doll & McDonald, Louisville, Kentucky, for Appellee.

Before: BATCHELDER and MOORE, Circuit Judges; COHN, District Judge.

BATCHELDER, J. (p. 274), delivered a separate dissenting opinion.

OPINION

MOORE, Circuit Judge.

When an insurance company's reorganization yields a pot of money that no one expected or even envisioned, who receives the proceeds? In short, that is the issue this case requires the court to resolve.

Bank of New York ("BNY") filed this interpleader action to resolve conflicting claims to stock it received from Prudential Insurance Company of...

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