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SAVINGS BANKS TRUST CO. v. FEDERAL RESERVE BANK

No. 83 Civ. 5824 (HFW).

577 F.Supp. 964 (1984)

SAVINGS BANKS TRUST COMPANY, Plaintiff, v. FEDERAL RESERVE BANK OF NEW YORK and American Savings Bank, Defendants.

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

January 17, 1984.

Attorney(s) appearing for the Case

Cullen & Dykman by Peter J. Mastaglio, Terry D. Weissman, Garden City, N.Y., for plaintiff.

Breed, Abbott & Morgan by Joseph P. Dailey, Joseph J. Tesoriero, New York City, for the Federal Reserve Bank. Thacher, Proffitt & Wood by Raymond S. Jackson, Jr., New York City, for American Savings Bank.

MEMORANDUM DECISION

KEVIN THOMAS DUFFY, District Judge.

Defendant Federal Reserve Bank of New York (Federal Reserve Bank) moves for summary judgment pursuant to Fed.R. Civ.P. 56. This suit was commenced on August 5, 1983 by plaintiff Savings Banks Trust Company (Savings) to recover $171,361 paid by Savings on a check drawn by the Franklin Savings Bank (Franklin), a predecessor in interest to defendant American Savings Bank (American). Savings is a bank organized...

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