Carey Electric Contracting, Inc. v. First National Bank

Mr. PRESIDING JUSTICE GUILD

delivered the opinion of the court:

On April 12,1976, plaintiffs Carey Electric Contracting, Inc. (Carey), Piping Systems, Inc. (Piping), C & K Precision Concrete Co. (C & K) and Hastings Pavement Co., Inc. (Hastings) filed a 12-count suit against the First National Bank of Elgin (the Bank), asking that they be declared the beneficial owners of certain funds held by the Bank. On June 21,1978, after viewing written exhibits and hearing oral testimony, the trial court issued a decree finding in favor of the Bank on all 12 counts. All four plaintiffs have appealed.

This…