Legal Opinion
In re Sentinel Management Group, Inc.
Court of Appeals for the Seventh Circuit
Decided August 9, 2012No. Nos. 10-3787, 10-3990, 11-1123PublishedCited by 2 opinions
1Opinion of the Court
TINDER, Circuit Judge.
The collapse of investment manager Sentinel Management Group, Inc. in the summer of 2007 left its customers in a lurch. Instead of maintaining customer assets in segregated accounts as required by law, Sentinel had pledged hundreds of millions of dollars in customer assets to secure an overnight loan at the Bank of New York, now Bank of New York Mellon. This left the bank in a secured position on Sentinel’s $312 million loan but its customers out millions. After filing for bankruptcy, Sentinel’s liquidation trustee brought a variety of claims against the bank to dislodge…
2Cases cited32 opinions
- Tamayo v. BlagojevichCourt of Appeals for the Seventh Circuit · 2008
- Lerner v. Fleet Bank, N.A.Court of Appeals for the Second Circuit · 2006
- In the Matter of Mobile Steel Company, Debtor. Elaine E. Benjamin v. Lester Y. Diamond, as Trustee in Bankruptcy for Mobile Steel, Inc.Court of Appeals for the Fifth Circuit · 1977
- In Re: Sharp International Corp. & Sharp Sales Corp., Debtors. Sharp International Corp., Debtor-Appellant v. State Street Bank and Trust CompanyCourt of Appeals for the Second Circuit · 2005
- Kham & Nate's Shoes No. 2, Inc., Debtor-Appellee v. First Bank of WhitingCourt of Appeals for the First Circuit · 1990
27 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Bachrach Clothing, Inc. v. Bachrach (In re Bachrach Clothing, Inc.)United States Bankruptcy Court, N.D. Illinois · 2012
- Voiland v. Kimmell (In re Kimmell)United States Bankruptcy Court, N.D. Illinois · 2012