Manley, Bennett, McDonald & Co. v. St. Paul Fire & Marine Insurance Co., Defendant-Third-Party v. John S. Albright, Third-Party-Defendants

MERRITT, Circuit Judge.

This is a declaratory judgment action arising out of two stockbrokers’ fidelity bonds issued by St. Paul, committing it to indemnify Manley, Bennett, a stockbroker-age firm, against dishonest or fraudulent acts by its own general partners or employees. Because we find that this case is an inappropriate one for declaratory judgment, we vacate the judgment of the District Court and remand for dismissal.

I

The dispute in this case arises out of two separate actions filed against Manley, Bennett in federal district court. The first was filed by Charles Tirone in the United…