Girard Trust Corn Exchange Bank v. Warren Lepley Ford, Inc.

Milner, J.,

We are considering five different petitions of the Girard Trust Corn Exchange Bank which seek to establish the bank’s right to preferential payments from the receivers appointed by this court for Warren Lepley Ford, Inc.* The bank’s claims arise out of transactions between the bank and Lepley whereby the bank financed automobiles sold by Lepley. When the bank discovered that Lepley had violated the financing agreement and misappropriated funds received from the sale of financed cars, it petitioned the court for the appointment of receivers.

I. The $61,91440 Petition

In its first…