Filosa v. Pecora

This is an appeal by First Arlington National Bank (Bank) from an order finding that the Bank was a stakeholder and not entitled to any share of the funds held by it under an escrow agreement, and ordering the Bank to turn over to Marianna Pécora *12,000 plus interest from the escrow funds. Two issues are presented: (1) whether an order entered by the trial court on November 19,1974, terminated the escrow, and (2) whether the Bank, as a creditor of Lowy and Canna, who are parties to the escrow, had a right of set-off against the funds.

We affirm.

The background of this appeal is summarized from…