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The Seventh Circuit reverses the district court's decision that the bank defendant did not have inquiry notice when it loaned funds to a cash management entity...
The Seventh Circuit reverses the district court's decision
that the bank defendant did not have inquiry notice when it loaned
funds to a cash management entity that was able to provide
collateral far in excess of the value of its own assets—it
was pledging the cash of its customers. The court affirms the
district court's decision that the bank's behavior did not
rise to the level of warranting equitable subordination of its
claim. Opinion below.
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