interpleader


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interpleader

A legal proceeding in which one holding money and making no claim to it, but unsure as to which of several claimants should receive the money,pays the money into court.This is the normal route taken by an escrow agent or someone else holding earnest money when the buyer and seller both demand the earnest money.The escrow company will name both the buyer and seller as defendants; ask that it be reimbursed out of the money for its costs, usually a small attorney's fee and a court filing fee; and that it be allowed to exit from the fight. The buyer and seller then battle over the funds.
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162) Nevertheless, in our specific example, the result would appear untoward if the interpleader proceeding in Singapore was declined simply because the defendant could randomly channel the asset to a third jurisdiction that does not recognize proprietary consequences of breach of equitable obligations.
and Judith Yoffie were all named in the complaint in interpleader.
The court, turning to the equitable principles governing interpleader, then addressed the question as to how to divide the insurance policy.
could the insurer have filed a federal interpleader action under 28
11) Furthermore, the Court noted that in a case involving interpleader accounts, Webb's Fabulous Pharmacies, Inc.
When plaintiffs did not give their acceptance, Nationwide filed an interpleader declaratory judgment action, naming all the claimants as defendants and then tendered its $300,000 policy limits and asked the court for an order declaring it had satisfied its policy obligations.
Unless extended, the cutoff date for interpleader claims would be February 16th.
6,898,597 for lead management technology and Internet Brands' Complaint in Interpleader and Demand for Arbitration filed against Autobytel with the American Arbitration Association relating to a strategic co-marketing agreement between Internet Brands and Autobytel's subsidiary, Autoweb.
of North Little Rock has amended its interpleader complaint to name more than 20 farmers who might have a claim on $513,463 payable to Turner that Oakley is holding.
Tashire, (72) the Court thus upheld the federal interpleader statute, which applies in any case in which any two adverse parties have diverse citizenship, even though other parties to the case destroy complete diversity.
135) An example is statutory interpleader, which creates federal jurisdiction for minimal diversity actions in which a plaintiff seeks to settle rival claims to property.