Manufacturers & Traders Trust Co. v. Audio-Video Corp.

OPINION OF THE COURT

Richard F. Kuhnen, J.

By a mistake for which plaintiff banking institution was clearly not responsible moneys which rightfully were owed to defendant Audio-Video Corporation were turned over to the bank by defendant Bulan as trustee in bankruptcy of Seneca Communications, Inc. Plaintiff, who had a security interest in accounts receivable of Seneca Communications and in any proceeds thereof collected by the trustee, understandably instituted an action for a declaratory judgment to determine the rightful owner of the money involved, amounting to $8,952.

By decision on March…