Gray & Son, Inc. v. Maryland Deposit Insurance Fund Corp.

BISHOP, Judge.

Gray & Son, Inc. (Gray) appeals from an order of the Circuit Court for Baltimore City (Kaplan, J.) denying its claims to assets of Old Court Savings and Loan, Inc. (Old Court) held by Old Court’s receiver, the State of Maryland Deposit Insurance Fund Corporation (MDIF).

ISSUES

Gray asks:

I. Whether the trial court erred in ruling that it was not an intended third party beneficiary of a supplementary agreement and an irrevocable letter of credit and, therefore, could not recover from the receivership on the basis of those instruments;

II. Whether the trial court erred in refusing to…