Larach v. Standard Chartered Bank International (Americas) Ltd.

ORDER GRANTING IN PART AND DENYING IN PART DEFENDANTS’ MOTION TO DISMISS

FEDERICO A. MORENO, Chief Judge.

Plaintiffs Miguel Larach and Great American Corporation allege that Defendants pledged the assets of the accounts they hold with Defendants’ banks as security on loans made to Miguel Larach’s sons without Plaintiffs’ authorization. Defendants argue in opposition that Plaintiffs executed valid pledges that authorized Defendants’ actions and that Plaintiffs are obligated to repay the losses sustained when Larach’s sons defaulted on the loans. Defendants have frozen Plaintiffs’ accounts and…