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PIONEER PLUMBING SUPPLY CO. v. S.W. S. & L. ASS'N

No. 1 CA-CIV 181.

3 Ariz. App. 495 (1966)

415 P.2d 893

PIONEER PLUMBING SUPPLY COMPANY, an Arizona corporation, and H.E. Davis, dba Rural Plumbing Company, Appellants, v. SOUTHWEST SAVINGS AND LOAN ASSOCIATION, an Arizona corporation, Appellee.

Court of Appeals of Arizona.

Rehearing Denied August 2, 1966.

Review Denied September 27, 1966.

Attorney(s) appearing for the Case

Spector & Johnson, by Richard E. Johnson, and William J. Samuels, Phoenix, for appellant Pioneer Plumbing Supply Co.

Pasquale R. Cheche, Phoenix, for appellant H.E. Davis, dba Rural Plumbing Co.

Lewis, Roca, Scoville, Beauchamp & Linton, by John P. Frank and Gerald K. Smith, Phoenix, for appellee.

STEVENS, Chief Judge.

The question to be resolved is whether a subcontractor and his supplier, who timely filed their lien claims, can assert an equitable lien against the unexpended construction funds held by a lending agency where the borrower has reassigned those funds to the lender as additional security for the construction loan. We find no ruling in Arizona on this precise point. In our opinion the case of Moeur v. Farm Builders' Corporation, 35 Ariz. 130, 274...

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