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Fabrikant's Lending Banks Hit With $118M Suit

Law360 (October 2, 2007, 12:00 AM EDT) -- M. Fabrikant & Sons Inc.'s unsecured creditors committee wants a slew of banks to void the millions in loans they gave the troubled diamond purveyer, claiming the banks knew full well that its controlling family was funneling the funds elsewhere.

The adversary suit, filed in Manhattan bankruptcy court as part of Fabrikant's Chapter 11 proceedings, names as defendants JP Morgan Chase Bank NA, ABN Amro Bank NV, Bank of America NA, HSBC Bank USA NA, Bank Leumi USA, Israel Discount Bank of New York, Antwerpse Diamantbank...
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