Grouse Creek Ranches v. Budget Financial Corp.

OPINION

By the Court,

Zenoff, C. J.:

Condensed to its simplest form the theme of this litigation finds Budget Financial Corporation (hereinafter “Budget”) as a pledgee, the holder of instruments as security for monies loaned by it to Pacific Westates Land Development Corporation (hereinafter “Westates”). Grouse Creek Ranches (hereinafter “Grouse Creek”), also a creditor of Westates, seeks collection of its claim against Westates by garnishment of Nevada Title Guaranty Company (hereinafter “Nevada Title”) who held the security owned by Budget. Budget foreclosed and retained all of the value…