Legal Opinion
Familian Corp. v. Imperial Bank
California Court of Appeal
Decided August 29, 1989No. G004954PublishedCited by 4 opinions
1Opinion of the Court
Opinion
WALLIN, J.
Can a secured construction lender defeat a bonded stop notice claimant’s statutory priority to construction loan proceeds by segregating the fund into preallocated accounts and thereafter deducting charges and interest as accrued? The construction lender, Imperial Bank, appealing the summary judgment granted the stop notice claimant, Familian Corp., contends Civil Code section 3166 2 does not provide laborers and material-men with a priority over the construction lender to preallocated and disbursed loan funds. As we describe below, the lender’s position contravenes a strong…
2Cases cited9 opinions
- Connolly Development, Inc. v. Superior CourtCalifornia Supreme Court · 1976
- Miller v. Mountain View Savings & Loan Ass'nCalifornia Court of Appeal · 1965
- A-1 Door & Materials Co. v. Fresno Guarantee Savings & Loan Ass'nCalifornia Supreme Court · 1964
- Cook v. CarlsonDistrict Court, D. South Dakota · 1973
- McBain v. Santa Clara Savings & Loan Ass'nCalifornia Court of Appeal · 1966
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3Cited by4 opinions
- Brewer Corp. v. Point Center Financial, Inc.California Court of Appeal · 2014
- Brewer Corp. v. Point Center FinancialCalifornia Court of Appeal · 2014
- Brewer Corp. v. Point Center FinancialCalifornia Court of Appeal · 2014
- Cal. Bank & Trust v. Del PontiCalifornia Court of Appeal · 2014