In Re the Arbitration Between Bank of Hawaii & DeYoung

Opinion of the Court by

KLEIN, J.

This appeal arises out of a dispute between claimant-appellant Bank of Hawaii (BOH) and garnishee-appellee City Bank (City Bank) regarding the garnishment by BOH of stock pledged as collateral for a loan to City Bank by James DeYoung (DeYoung). After initially granting a garnishment order in favor of BOH, the first circuit court granted City Bank’s motion- to dissolve the garnishment order on grounds that (1) DeYoung’s pledged stock might not be garnishable under Hawafi law as a debt that was due and owing; and (2) BOH’s garnishment of the shares would…