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FROUGE CORP. v. CHASE MANHATTAN BANK (NAT. ASS'N)

No. 75 Civ. 4660.

426 F.Supp. 794 (1976)

The FROUGE CORPORATION, Plaintiff, v. The CHASE MANHATTAN BANK (NATIONAL ASSOCIATION), Defendant.

United States District Court, S. D. New York.

December 9, 1976.

Attorney(s) appearing for the Case

Hart & Hume, New York City, for plaintiff; Roger A. Goodnough, New York City, of counsel.

Dewey, Ballantine, Bushby, Palmer & Wood, New York City, for defendant; Kenneth H. Holmes, John M. Friedman, Jr., John M. Goodman, New York City, of counsel.

MEMORANDUM

BONSAL, District Judge.

Plaintiff, The Frouge Corporation ("Frouge"), commenced this action against the defendant, The Chase Manhattan Bank, National Association ("Chase"), for an accounting of earnings realized by Chase from the alleged unauthorized use of funds deposited by Frouge in an account with Chase entitled "Frouge-Trumbull Trust Account No. 1."

It appears undisputed that during the summer of 1964 Frouge sought a loan from Chase...

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