Legal Opinion
Acuity, a Mutual Insurance v. Planters Bank, Inc.
District Court, W.D. Kentucky
Decided March 28, 2005No. CIV.A. 3:03CV-367-HPublishedCited by 7 opinions
1Opinion of the Court
MEMORANDUM OPINION
HEYBURN, Chief Judge.
This dispute arises because a contractor, Star Construction, Inc. (“Star”), defaulted on both its construction contract with the Commonwealth of Kentucky (the “Commonwealth”) and its loan repayment with Planters Bank (the “Bank”). The contractor’s surety, Acuity, claims the right to contract funds that the Bank had set off from Star’s account. To resolve the conflict between the surety’s rights in subro-gation and the bank’s rights as creditor, the Court must clarify: (1) the precise extent of a subrogee’s rights and the bank creditor’s rights; (2) the…
2Cases cited29 opinions
- Prairie State Bank v. United StatesSupreme Court of the United States · 1896
- Pearlman v. Reliance InsuranceSupreme Court of the United States · 1962
- Tonyan Construction Co. v. McHenry State Bank (In Re Tonyan Construction Co.)United States Bankruptcy Court, N.D. Illinois · 1983
- Louisville Trust Co. v. Royal Indemnity Co.Court of Appeals of Kentucky (pre-1976) · 1929
- Mitchell v. First National BankCourt of Appeals of Kentucky · 1924
24 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Benjamin v. JP Morgan Chase Bank, N.A.Court of Appeals of Kentucky · 2010
- Harleysville Worcester Mutual Insurance v. Bank of America, N.A. Ex Rel. Fleet National Bank (In Re Suprema Specialties, Inc.)District Court, S.D. New York · 2007
- Redrock Administrative Services LLC v. Magna Entertainment Corp. (In Re Magna Entertainment Corp.)United States Bankruptcy Court, D. Delaware · 2010
- Poynter v. Great American Insurance (In Re Poynter)Court of Appeals for the Sixth Circuit · 2013
- Berkley Insurance Company v. Hawthorn BankDistrict Court, W.D. Missouri · 2017
2 more not listed; retrieve them via the Exa API.