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UNION BANK OF SWITZERLAND v. HS EQUITIES, INC.

No. 76 Civil 4378.

423 F.Supp. 927 (1976)

UNION BANK OF SWITZERLAND, Plaintiff, v. HS EQUITIES, INC., Defendant.

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

December 23, 1976.

Attorney(s) appearing for the Case

Sullivan & Cromwell, New York City, for plaintiff; Francis Carling, New York City, of counsel.

Robert J. Poulson, Jr., New York City, for defendant.

OPINION

EDWARD WEINFELD, District Judge.

Plaintiff, a Swiss banking corporation, alleges in its complaint that in 1967 it opened a brokerage account with defendant on behalf of one of plaintiff's clients, named Zelmanowitz. Thereafter plaintiff, acting as Zelmanowitz's agent, engaged in various securities transactions through defendant. The proceeds of these transactions remained in plaintiff's account with defendant; correspondingly, plaintiff credited...

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