News & Analysis as of

Sentinel Management Group

Blank Rome LLP

Suspicious Minds: Lender's Failure to Investigate and Search For "Possible Dirt" Leads to Fraudulent Transfer Liability, but Not...

Blank Rome LLP on

In a decision that deserves the close attention of secured lenders, the U.S. Court of Appeals for the Seventh Circuit held that a bank’s awareness of suspicious facts about the collateral pledged to secure its loan required...more

Cooley LLP

Blog: Lack of Knowledge is No Defense: Seventh Circuit Strips Bank’s Lien on More than $300 Million in Assets

Cooley LLP on

The Seventh Circuit (which covers Illinois, Indiana, and Wisconsin) appears to have added a new and potentially conflicting standard in analyzing a third-party transferee’s “good faith” defense to a fraudulent transfer...more

Akerman LLP

Lenders are Required to Investigate Suspicious Loan Transactions

Akerman LLP on

The Seventh Circuit Court of Appeals recently held that a lender is obligated to conduct a diligent investigation when it becomes aware of suspicious facts relating to the legitimacy of a loan transaction. In Sentinel...more

Cadwalader, Wickersham & Taft LLP

Court Finds Investment Advisor’s Payments to Customers Are Not Exempt From Avoidance Under Section 546(e) of the Bankruptcy Code

FCStone, a New York-based commodities brokerage firm, was recently ordered to return a transfer of $15.6 million to the bankruptcy estate of Sentinel Management Group. Approximately $1.1 million of this amount constituted a...more

Eversheds Sutherland (US) LLP

Legal Alert: Court Rejects Safe Harbor Defenses for Futures Customers

On January 4, 2013, the U.S. District Court for the Northern District of Illinois issued an opinion that strikes a significant blow against the rights of futures customers that might otherwise enjoy the Bankruptcy Code’s safe...more

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