K Town, Inc. v. Metropolitan Bank & Trust Co. (In Re K Town, Inc.)

MEMORANDUM OPINION ON MOTION OF METROPOLITAN BANK FOR SUMMARY JUDGMENT ON K TOWN’S ADVERSARY COMPLAINT

JACK B. SCHMETTERER, Bankruptcy Judge.

This Adversary proceeding relates to plaintiffs bankruptcy proceeding under Chapter 11. Plaintiff, K Town, Inc. (“K Town”), sued Metropolitan Bank & Trust Company (“Metropolitan”), asserting that defendant breached a fiduciary duty and wrongfully setoff accounts held by defendant, thereby causing K Town to incur losses. Metropolitan moved for summary judgment. For reasons discussed below, that motion is allowed.

JURISDICTION

This matter is before the Court…