In re McMullen Oil Co.
United States Bankruptcy Court for the Central District of California
251 B.R. 558 (2000)
- Written by Sean Carroll, JD
Facts
Andrew Hopwood was the president of McMullen Oil Company (McMullen). Hopwood deposited 15 checks made payable to McMullen into the bank account of the McMullen Oil Company Pension Plan (pension plan) at the predecessor to Comerica Bank-California (Comerica) (defendant). The checks were indorsed by the pension plan but not by McMullen. Of the 15 checks, five checks were deposited before McMullen filed for Chapter 11 bankruptcy, and 10 were deposited after McMullen filed for bankruptcy. The McMullen Oil Company Creditors’ Trust (the trust) (plaintiff) filed claims for conversion and negligence against Comerica, seeking to recover for the 15 checks. Comerica moved for summary judgment.
Rule of Law
Issue
Holding and Reasoning (Bufford, J.)
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