In Grede v. Bank of New York Mellon Corp. (In re Sentinel Management Group, Inc.), 809 F.3d 958 (7th Cir.
Lender Beware: Ignore Suspicious Activity at Your Own Peril
Recently, the Seventh Circuit held that a lender who should have discovered that its borrower lacked authority to pledge assets is not protected by a good-faith defense to a fraudulent transfer action. Without this defense, the lender lost its security. Should the priority of the lender's claim should be further reduced through equitable subordination?
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David KupetzThis premium content is locked for LawJournalNewsletters subscribers only
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