- 11 U.S.C.
In re Sentinel Mgmt. Group
Aug
09
2012
Ruling
Judgment holding that debtor's use of customer assets to finance loan was not fraudulent affirmed.
Procedural posture
Plaintiff trustee filed an adversary proceeding alleging that the debtor fraudulently used customer assets to finance a loan to cover its house trading activity and that defendant bank knew about it. There were claims of fraudulent transfer, preferential transfer, equitable subordination, and invalidation of the lien. The U.S. District Court for the Northern District of Illinois, Eastern Division, rejected the claims. The trustee appealed.
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Court
:
Judge or Jurisdiction information not available