Bank Takes WexTrust Liquidation Beef To 2nd Circ.

Law360, New York (January 5, 2010, 1:38 PM EST) -- Broadway Bank has asked a federal appellate court to consider the treatment of its more than $5 million claim in the liquidation of WexTrust Capital LLC, which was broken up after regulators said it was a massive Ponzi scheme.

In a notice filed on Dec. 30, Broadway Bank said it was taking its beef to the U.S. Court of Appeals for the Second Circuit. At issue is whether the bank's claim related to a $7.75 million loan should be treated as a secured or unsecured claim...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.