Akamine & Sons, Ltd. v. American Security Bank

OPINION OF THE COURT BY

LEVINSON, J.

This action was instituted by Akamine 8: Sons, Ltd. to enjoin a sale by American Security Bank under a power of sale given in a mortgage by the corporation to American Security. Hawaii National Bank intervened. After the trial court denied the injunction, the only issue remaining in the case was the priority of the two banks to the proceeds from the sale. The trial court awarded the entire proceeds to American Security, and Hawaii National appealed. Akamine 8c Sons, Ltd. has not appealed.

On August 2, 1960, Val Super Market, Ltd., a corporation owned almost…