Chase Manhattan Bank, N.A. v. CVE, Inc.

MEMORANDUM

WISEMAN, Senior District Judge.

This case stems from an erroneous transfer of shares from a custodian account managed by Plaintiff Chase Manhattan Bank, Inc. (“Chase”) to Defendant CVE, Inc. (“CVE”). Chase has filed a complaint seeking a declaratory judgment rescinding the transaction. In addition, Chase’s initial complaint states four other causes of action: (1) unjust enrichment (2) breach of trust, (3) conversion, and (4) fraud. CVE has moved to dismiss, each of Chase’s claims. A hearing on CVE’s motion was held on March 22, 2002.

I. Factual Background

Chase is a New York…