Walker Bank & Trust Co. v. Smith

OPINION

By the Court,

Thompson, J.:

The district court denied the third party claim of Walker Bank to money in possession of North American Escrow against which attachments had been levied by Smith Construction and Continental Kitchens ancillary to actions brought by them against Lady Fair Kitchens, Inc. Walker Bank contends that the decision is erroneous since it failed to verify the Bank’s preference to the money by reason of a perfected security interest therein.

Walker Bank and Lady Fair are Utah corporations. In June 1968, they entered into an inventory and accounts receivable financing…