Continental Bank and Trust Company, a Corporation Organized Under the Banking Laws of the Commonwealth of Pennsylvania v. The United States

ON DEFENDANT’S MOTION AND PLAINTIFF’S CROSS-MOTION FOR SUMMARY JUDGMENT

COWEN, Chief Judge.

Plaintiff, Continental Bank and Trust Company, 1 a Pennsylvania banking corporation, sues to recover $43,848.41 plus accrued interest to which it alleges it is entitled as assignee of a contract between the defendant and the General Development Corporation. Plaintiff lent funds to General Development for the performance of the contract. The funds have been repaid; however, plaintiff asserts that General Development is otherwise indebted to it, and that it is, accordingly, entitled to the funds still…