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ROCHELLE v. MARINE MIDLAND GRACE TRUST CO. OF N. Y.

No. 74-1429.

535 F.2d 523 (1976)

William J. ROCHELLE, Jr., Trustee in Reorganization of Sunset International Petroleum Corporation on his own behalf and as a representative of certain classes, and American Income Life Insurance Company, on its own behalf and as representative of certain classes, Plaintiffs-Appellants, v. MARINE MIDLAND GRACE TRUST COMPANY OF NEW YORK, being joined as Involuntary Plaintiff, v. ARTHUR YOUNG & COMPANY et al., Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Rehearing Denied June 16, 1976.

Attorney(s) appearing for the Case

Richard W. Havel (argued), of Shutan & Trost, Los Angeles, Cal., for plaintiffs-appellants.

Hillel Chodos (argued), Beverly Hills, Cal., for defendants-appellees.

Before HUFSTEDLER, WRIGHT and GOODWIN, Circuit Judges.

OPINION

HUFSTEDLER, Circuit Judge:

This appeal by Rochelle, reorganization trustee of Sunset International Petroleum Corporation ("Sunset") and by American Income Life Insurance Company ("American"), purchaser of a debenture issued by Sunset, against former officers and directors of Sunset and an independent certified public accountant, Arthur Young & Company ("Young")1 presents...

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