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Rule 9017

In re Griffin Trading Co.

Ruling
Finding that debtor's controlling partners did not breach fiduciary duties by allowing use of customer funds reversed.
Procedural posture

Appellant bankruptcy trustee initiated an adversary action against appellees, the partners in control of debtor futures commission merchant, asserting that the partners' violated their fiduciary duties. The U.S. District Court for the Northern District of Illinois, Eastern Division, affirmed the bankruptcy court's holding that the trustee failed to establish that the partners actually caused the loss of customer funds. The trustee appealed.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on June 25, 2012 , LexisNexis #0712-105