Sumitomo Shoji New York, Inc. v. Chemical Bank New York Trust Co.

This proceeding involves the novel and interesting question of the effectiveness of a restraining notice served upon a bank specifying an account held in a name other than that of the judgment debtor as a debt owed to the judgment debtor or as property in which he has an interest.

After examining the individual judgment debtor in enforcement proceedings a restraining notice was served on respondent bank specifying several bank accounts, including two corporate checking accounts. Several days later checks closing out these corporate accounts signed by judgment debtor and payable to cash were…