SunTrust Ducks Claims Over $80M Notes Enforcement

Law360, Miami (January 17, 2014, 9:02 PM EST) -- A Florida federal judge on Thursday released SunTrust Banks from most of the claims in a suit claiming the bank was negligent in pursuing and enforcing $80 million in subordinated notes issued by bankrupt American Capital Corp.

U.S. District Judge Kathleen M. Williams dismissed plaintiff FBK Associates' negligence claims stemming from SunTrust's alleged failure to go after a $132 million judgment issued against ACC, claiming they were barred by the statute of limitations.

She also ruled that negligence claims related to SunTrust's alleged failure to consolidate the bankruptcy cases of ACC and Transcapital Financial Corp., in which ACC held a majority...

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