Legal Opinion
Wachovia Securities, LLC v. Banco Panamericano, Inc.
Court of Appeals for the Seventh Circuit
Decided March 21, 2012No. 10-1203, 10-1227, 10-1238PublishedCited by 99 opinions
1Opinion of the Court
TINDER, Circuit Judge.
To recoup about $1.9 million in margin debt from a group of businessmen once dubbed “The ‘Bad Boys’ of Chicago Arbitrage,” 1 Wachovia Securities raised veil piercing and fraudulent transfer claims. That was shrewd because this is a particularly compelling case for both given that the district court’s generally undisputed findings — a convoluted web of entities, insider transactions, and sham loans all designed to avoid financial responsibility— soundly supported the claims.
I. Factual Background
Appellants Leon Greenblatt, Andrew Jahelka, and Richard Nichols embrace a…
2Cases cited36 opinions
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