S & M Sakamoto, Inc. v. Aoki (In Re Central Pacific Boiler & Piping, Ltd.)

JON J. CHINEN, Bankruptcy Judge.

FINDINGS OF FACT AND CONCLUSIONS OF LAW

First Hawaiian Bank (“Bank”) and S & M Sakamoto, Inc. (“Sakamoto”), each filed interpleader complaints as adversary actions on May 7,1986, and October 17,1986, respectively. The complaints sought to have the Court determine the proper disposition of funds held by each party, said funds being accounts receivable of Central Pacific Boiler & Piping, Ltd. (“Debtor”) for prepetition work performed for Sakamoto.

The principals of debtor corporation, Edward A. Anderson and Alzada P. Anderson (“Andersons”), claim the funds as…