Legal Opinion
Kane v. Capital Guardian Trust Co.
Court of Appeals for the Tenth Circuit
Decided June 15, 1998No. 97-3030PublishedCited by 30 opinions
1Opinion of the Court
BALDOCK, Circuit Judge.
The issue in this case is whether a trust company becomes liable to the holder of an individual retirement account when the company responds to a federal tax levy against the account by liquidating the mutual fund shares in the account and remitting the cash proceeds to the Government. On the facts of this case, we hold that the trust company is not liable to the account holder.
I
At the end of 1975, Plaintiff Gerald E. Kane (hereinafter “Kane”), then 51 years old, established an individual retirement account (hereinafter “IRA”) under a trust agreement with Defendant…
2Cases cited15 opinions
- Franchise Tax Bd. of Cal. v. Construction Laborers Vacation Trust for Southern Cal.Supreme Court of the United States · 1983
- United States v. National Bank of CommerceSupreme Court of the United States · 1985
- G. M. Leasing Corp. v. United StatesSupreme Court of the United States · 1977
- United States v. BessSupreme Court of the United States · 1958
- Richard C. Lytle v. City of Haysville, Kansas, a Municipal Corporation, and James Earl KitchingsCourt of Appeals for the Tenth Circuit · 1998
10 more not listed; retrieve them via the Exa API.
3Cited by30 opinions
- United States v. Raymond P. NovakCourt of Appeals for the Ninth Circuit · 2007
- Martinez v. City of AlbuquerqueCourt of Appeals for the Tenth Circuit · 1999
- Rice v. United StatesCourt of Appeals for the Tenth Circuit · 1999
- United States v. HoskingCourt of Appeals for the Seventh Circuit · 2009
- Gamble, Simmons & Company v. Kerr-Mcgee CorporationCourt of Appeals for the Tenth Circuit · 1999
25 more not listed; retrieve them via the Exa API.