2nd Circ. Frees JPMorgan, BofA Of Fabrikant's Fraud Case

Law360, New York (October 15, 2013, 4:12 PM EDT) -- The Second Circuit ruled Tuesday that fraudulent conveyance claims brought by the trustee of bankrupt jeweler M. Fabrikant & Sons Inc. against high-profile lenders such as JPMorgan Chase Bank NA, Bank of America NA and Israel Discount Bank of New York were correctly dismissed.

In a summary order, a three-judge panel led by Chief Judge Robert A. Katzmann affirmed the New York bankruptcy and district courts' orders dismissing the claims in a suit brought by Buchwald Capital Advisors LLC against a consortium of banks. The complaint...
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