Owens v. Drywall and Acoustical Supply Corp.

MEMORANDUM AND ORDER

BUE, District Judge.

This action raises the issue under 26 U.S.C. § 7426 1 as to whether a portion of that amount of money due and owing Drywall, the employer corporation, under certain construction contracts, which amount was set aside for contribution to the Employees’ Vacation Fund, is the property of Drywall to which a tax lien could attach and upon which levy might be made, or whether such amount constitutes trust funds which are not subject to levy. The action is now before the Court on cross motions for summary judgment, the plaintiffs herein and one of the…