Stifel, Nicholaus & Co. v. Lac Du Flambeau Band of Lake Superior Chippewa Indians

RIPPLE, Circuit Judge.

The current appeal is the most recent in a series of lawsuits that have arisen over the sale of bonds by the Lake of the Torches Economic Development Corporation (“the Corporation”), a corporation wholly owned by the Lac du Flambeau Band of Lake Superior Chippewa Indians (“the Tribe”) (collectively “the Tribal Entities”). In a prior action in this court, Wells Fargo Bank (“Wells Fargo”) had alleged that the Corporation had breached a bond indenture and, as trustee for the bondholders, had sought “the appointment of a receiver to manage the trust security on behalf of the…