Bank of America is a national banking institution with its registered address in Concord, California. Bank is a national banking institution with its *410 registered address in Minneapolis, Minnesota. Calex is a Pennsylvania corporation with a principal place of business in Pittston, Pennsylvania. This Court has jurisdiction pursuant to the diversity jurisdiction statute, 28 U.S.C. Count III maintains that Lumbermen negligently issued the check to two corporate payees. Bank and Bank of America, alleging that the acceptance of the check without indorsement of Toys `R Us constituted conversion, negligence, and a breach of warranties of presentment and transfer. Counts I and II are conversion claims against U.S. The Amended Complaint advances three Counts. On July 27, 2004, this Court granted the Motion to Amend and Calex filed the Amended Complaint on August 2, 2004. On July 21, 2004, Calex moved to amend the Complaint to add claims against Lumbermen and U.S. (Exhibit F) Calex instituted the instant action against Bank of America on to recover the proceeds. Thereafter, Toys `R Us assigned all of its rights to the check to Calex. The signature of the Toys `R Us representative had been fraudulently endorsed. Bank presented the check to Bank of America the same day. (Exhibit B, "the check") On February 22, Owners presented the check endorsed by Owners and Toys `R Us to Firstar Bank, a subsidiary of U.S. Pursuant to the policy, on February 20, 2001, Lumbermen issued a check for $150,000 jointly payable to Owners and Toys `R Us and drawn from an account with Defendant Bank of America. J.) Included in this policy was an endorsement, which provided in part, "In consideration of the premium stated in the policy to which this endorsement is attached, the Company hereby agrees to pay, within the limits of liability hereinafter provided, any shipper of consignee for all loss of or damage to all property belonging to such shipper or consignee." ( Id.) Owners had a policy covering the loss with Lumbermen. On November 9, 2000, the cargo freight was lost or stolen while in Owners' possession. ("Owners") to ship cargo freight for Toys `R Us, Inc. In November 2000, Calex subcontracted with Third Party Defendant Owners Express, Inc. Plaintiff Calex Express, Inc., ("Calex") provides transportation and carrier services. For the following reasons, we will grant both motions. The parties have fully briefed the motions and they are ripe for summary judgment. Bank National Association's ("U.S.Bank") Motion For Summary Judgment and Defendant Lumbermen's Mutual Insurance Company's ("Lumbermen") Motion for Summary Judgment. Presently before the Court for disposition are Defendant U.S. Kornbluh, Reed Smith LLP, Philadelphia, PA, Jill Radomsky Fisher, Allentown, PA, for Defendants. Donohue, Kreder, Brooks, Hailstone & Ludwig, Scranton, PA, Elizabeth S. Shoemaker, Jennifer Lynne Rogers, Hourigan, Kluger & Quinn, P.C., Kingston, PA, for Plaintiff. *408 *409 Ronald Vincent Santora, David W. Owner's Express Group, Third Party Defendant. BANK OF AMERICA, US Bank National Association, and Lumbermen's Mutual Insurance Co., Defendants
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