Regency Financial Corp. v. Kidder, Peabody & Co.

OPINION

DRAUGHN, Justice.

Regency Financial Corporation and West-lake Development appeal from the trial court’s order granting summary judgment in favor of appellee, Kidder, Peabody & Co., Inc. Appellants raise five points of error. Because we find that Kidder Peabody failed to meet its summary judgment burden of proof, we reverse the judgment of the trial court.

This dispute arises from Kidder Peabody’s disbursement of funds from an account to an attorney, Michael Stewart, on behalf of Old Faithful Investments, N.Y. The account at Kidder Peabody was opened in May 1986 by Dorothy Crane and…