Pacific Lumber Demands BNY Return $1M

Law360, New York (February 26, 2008, 12:00 AM EST) -- Bankrupt Pacific Lumber Co. has accused The Bank of New York Trust Co. NA of improperly siphoning off nearly $1 million from its unit’s bank account to cover Bank of New York’s lawyer fees.

The lumber company lodged a motion with the U.S. Bankruptcy Court in the Southern District of Texas on Friday to force the bank to pay back the $979,248 it allegedly “misappropriated” from subsidiary Scotia Pacific Co.’s account so that the bank could pay fees for Fulbright & Jaworski LLP and Bingham McCutchen...
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