Lowndes Bank v. MLM Corp.

NEELY, Chief Justice:

This case requires us to engage in a difficult exercise in federal statutory construction. The appellant is the Internal Revenue Service (United States) which maintains that the Circuit Court of Harrison County did not have jurisdiction to entertain a claim by The Lowndes Bank (Bank), the appellee, to certain monies in the hands of a third party that the United States also claimed.

The Lowndes Bank filed a complaint asking the circuit court to determine that Lowndes’ claim to certain funds held by the Buckhannon Sales Company, Inc. (BSC), for Richard N. White and Lynna S.…