Legal Opinion
Casey v. U.S. Bank National Ass'n
California Court of Appeal
Decided March 28, 2005No. G033023PublishedCited by 145 opinions
1Opinion of the Court
Opinion
IKOLA, J.
A bankruptcy trustee sued several banks for aiding and abetting a fraudulent scheme to loot the debtor corporation, perpetrated by a number of its officers. The banks successfully demurred to the second amended complaint on the ground the trustee lacks standing to assert these claims under the so-called Wagoner rule because the officers’ fraudulent conduct is imputed to the debtor (and thus the trustee). Based on this imputation of wrongdoing, the trial court also ruled the trustee’s claims were barred by the affirmative defense of in pari delicto.
We conclude the allegations…
2Cases cited27 opinions
- Blank v. KirwanCalifornia Supreme Court · 1985
- Applied Equipment Corp. v. Litton Saudi Arabia Ltd.California Supreme Court · 1994
- Quelimane Co. v. Stewart Title Guaranty Co.California Supreme Court · 1998
- Shearson Lehman Hutton, Inc. v. Walter Wagoner, Jr., TrusteeCourt of Appeals for the Second Circuit · 1991
- Official Committee of Unsecured Creditors v. R.F. Lafferty & Co., Inc. Cogen Sklar, L.L.PCourt of Appeals for the Third Circuit · 2001
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3Cited by145 opinions
- Peregrine Funding, Inc. v. Sheppard Mullin Richter & Hampton LLPCalifornia Court of Appeal · 2005
- Berryman v. Merit Property Management, Inc.California Court of Appeal · 2007
- Esg Capital Partners v. Venable LLPCourt of Appeals for the Ninth Circuit · 2016
- Henry v. Lehman Commercial Paper, Inc. (In Re First Alliance Mortgage Co.)Court of Appeals for the First Circuit · 2006
- Henry v. Lehman Commercial Paper, Inc.Court of Appeals for the Ninth Circuit · 2006
140 more not listed; retrieve them via the Exa API.