Cochran v. Swank Hardware Co.

GOURLEY, Chief Judge.

In this proceeding the defendant corporation called for redemption of its stock, and plaintiff was the registered owner of 86 shares.

Dispute arises as to whether plaintiff is the unqualified owner or if an equitable trust exists between plaintiff and third party defendant.

The only controversy between the parties is who is entitled to the proceeds of the redemption of stock issued by defendant. The defendant claims no interest in the proceeds and desires to pay the proper person, so the dispute to the funds is between plaintiff and third party defendant.

Divers procedural…