Amdura National Distribution Co. v. Amdura Corp.

HENRY, Circuit Judge.

The sole issue in this bankruptcy appeal is the ownership of funds deposited by a subsidiary into a parent corporation’s cash management bank account. We affirm summary judgment for the parent.

Background

Amdura National Distribution Company (Andco) was a hardware distributor, one of three wholly owned subsidiaries of Amdura Corporation (Amdura), which was a holding company with few assets of its own. Amdura’s other subsidiaries were The Crosby Group, Inc., and The Harris Waste Management Group, Inc. Amdura provided management, accounting, and financial services to its…