McAllister v. Federal Savings & Loan Insurance

RULING ON CROSS MOTIONS FOR SUMMARY JUDGMENT

POLOZOLA, District Judge.

Earl W. McAllister, Inc. established a retirement plan (“Retirement Plan”) for its employees in which Earl W. McAllister was the sole participant. All of the funds belonging to the retirement plan were held in a trust (“Retirement Trust”), of which Earl W. McAllister was the sole trustee. A portion of these trust funds was invested in two accounts at Community Savings & Loan Association (“Community”). One account was in the name of “Earl McAllister, Inc. Employee Pension Plan.” The other was in the name of “Earl McAllister,…