Former Bank Can't Sue Over Bad Rating, 7th Circ. Affirms
Law360 (April 25, 2019, 7:46 PM EDT) -- The Seventh Circuit on Thursday found a former bank can’t recover money it allegedly overpaid for insurance after a negative financial rating, saying Builders NAB LLC can’t “litigate haphazardly” and expect to be “bailed out” at the appellate court.
The panel chastised Builders — which left the banking business amid a dispute over its financial strength — for what it said was an improper attempt to pursue an alternate appellate strategy after earlier arguments had failed at the district court, the panel said.
Builders claimed it was entitled to a refund under the Administrative Procedure Act because of an "unduly severe" evaluation...
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