Legal Opinion
American Bank, FSB v. Cornerstone Community Bank
Court of Appeals for the Sixth Circuit
Decided August 16, 2013No. 12-6349PublishedCited by 11 opinions
1Opinion of the Court
OPINION
SUTTON, Circuit Judge.
American Bank and Cornerstone Community Bank each claimed a security interest in funds held in an account at Cornerstone. The account’s owner, insurance broker U.S. Insurance Group (USIG), held the money, which it had received from American, in trust as part of an insurance deal. After Cornerstone took the contested money and applied it to a debt USIG separately owed it (and after USIG went bankrupt), American sued Cornerstone for conversion. The magistrate judge held that American’s interest trumped Cornerstone’s interest and that Cornerstone had no right to the…
2Cases cited14 opinions
- Digital Equipment Corp. v. Desktop Direct, Inc.Supreme Court of the United States · 1994
- Radlax Gateway Hotel, LLC v. Amalgamated BankSupreme Court of the United States · 2012
- Bonded Financial Services, Inc., Debtor-Appellant v. European American BankCourt of Appeals for the Seventh Circuit · 1988
- United States v. Huntington National BankCourt of Appeals for the Sixth Circuit · 2009
- Frazier v. East Tennessee Baptist Hospital, Inc.Tennessee Supreme Court · 2001
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3Cited by11 opinions
- Wheeling & Lake Erie Railway Co. v. KeachCourt of Appeals for the First Circuit · 2015
- In re MooreUnited States Bankruptcy Court, E.D. Tennessee · 2019
- Wheeling & Lake Erie Railway Co. v. Keach (In re Montreal, Maine & Atlantic Railway, Ltd.)Bankruptcy Appellate Panel of the First Circuit · 2014
- Advantage Insurance Services, Inc. v. RouleDistrict Court, M.D. Tennessee · 2025
- Amanda Michelle MelcherUnited States Bankruptcy Court, E.D. Kentucky · 2022
6 more not listed; retrieve them via the Exa API.