IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
IN AND FOR NEW CASTLE COUNTY
WILMINGTON SAVINGS FUND
SOCIETY, FSB, a Federal savings bank
1
Plaintiff,
V. > C.A.No._ig+as3C
HOOK FINANCIAL CORPORATION,
a Delaware corporation, TRI-STATE >
ARMORED SERVICES, INC., a Delaware )
Corporation, DAVID J. MCGRATH,
JOHN F. MCGRATH and ELIZABETH ;
ANN MCGRATH
;
Defendants. 1
VERIFIED COMPLAm
Plaintiff Wilmington Savings Fund Society, FSB ("WSFS"), by its
undersigned counsel, as and for its complaint, alleges as follows:
INTRODUCTIO?$
1. This is an action brought by WSFS for claims based on breach of
fiduciary duty, equitable fraud, piercing the corporate veil, injunctive relief, as well as
tort and contract claims for damages relating to the unlawful taking of approximately
$326,230.00 by the Defendants. WSFS has applied Hook Financial Corporation's
("Hook Financial") security deposit of $10,378.28, a payment received from Hook
Financial on February 16, 2001 in the amount of $17,000.00, and terminal
discrepancies netting out to an additional $145.00 shortage for a net shortage of
$298,996.72 (the "Net Shortage of $298,996.72").
WP3 : 605071 1
SNIPPETS:
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
SOCIETY, FSB, a Federal savings bank
ARMORED SERVICES, INC., a Delaware) Corporation, DAVID J. MCGRATH,
Plaintiff Wilmington Savings Fund Society, FSB, by its
fiduciary duty, equitable fraud, piercing the corporate veil, injunctive relief, as well as
WSFS has applied Hook Financial Corporation's
Financial on February 16, 2001 in the amount of $17,000.00, and terminal
$298,996.72 (the "Net Shortage of $298,996.72").
Defendants Hook Financial ancl Defendant David J. McGrath
WSFS provided cash ("Vault Cash") to operate the ATMs.
David McGrath and John McGrath.
interest, Defendant Tri-State Armored Services, Inc. was hired as a courier
Elizabeth McGrath is a resident of the
The Cash Bailment Agreements
Attornment Agreement (the "Recognition and Attornment Agreement") (copies of the
Attornment Agreement are attached to the complaint as Exhibits A, B and C,
and Tri State Armored entered into the Recognition and Attornment Agreement.
Following a reconciliation of the Vault Cash returned by Tri State,
has applied Hook Financial's security deposit of $10,378.28, a payment received from
fully set forth herein.
and took Vault Cash from the ATMs, by the admission of David McGrath.
The reconciliation of bank records indicates that the Net Shortage is
(Hook Financiall, David McGrath, John McGrath, Elizabeth McGratb, Tri-State)
In order to prevent continued injury to WSFS injunctive relief is
Fund Society, fsb, states under oath that he has read the foregoing Verified Complaint and
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