Trafalgar Brings Loan Trustee Breach Suit To 2nd Circ.

Law360, New York (February 24, 2012, 3:51 PM EST) -- Hydroelectric plant owner Trafalgar Power Inc. on Thursday appealed the dismissal of its complaint claiming U.S. Bank NA wrongly disbursed funds to the plant operator that owned the loan Trafalgar used to finance its New York plants.

U.S. Bank did not have any fiduciary obligation to Trafalgar as the security trustee holding the power company's loan notes under an indenture arrangement, U.S. District Judge David N. Hurd said in an order of dismissal Tuesday.

The Delaware-based power company did not offer any reasons in Thursday's notice...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Trafalgar Power, Inc. et al v. U.S. Bank National Association


Case Number

5:05-cv-01533

Court

New York Northern

Nature of Suit

Contract: Other

Judge

David N. Hurd

Date Filed

December 7, 2005

Law Firms

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.