Legal Opinion
Eldred v. Merchants National Bank of Cedar Rapids
Supreme Court of Iowa
Decided April 17, 1991No. 90-270PublishedCited by 2 opinions
1Opinion of the Court
ANDREASEN, Justice.
This is a case of first impression in Iowa. It poses the question whether an indenture trustee owes fiduciary duties to investors beyond those set out in the indenture. We hold it does not and affirm.
I. Background.
This is the third appeal to reach this court arising out of the bankruptcy of Mor-America Financial Corporation (MorAmerica) and its subsidiaries. See Eldred v. McGladrey, Hendrickson & Pullen, 468 N.W.2d 218 (Iowa 1991); Unertl v. Bezanson, 414 N.W.2d 321 (Iowa 1987). This appeal is taken from the same suit as McGladrey and involves the same plaintiffs. In this…
2Cases cited9 opinions
- Fed. Sec. L. Rep. P 97,956 David Broad v. Rockwell International CorporationCourt of Appeals for the Fifth Circuit · 1981
- Meckel v. Continental Resources Co.Court of Appeals for the Second Circuit · 1985
- Hazzard v. Chase National BankNew York Supreme Court · 1936
- Hazzard v. Chase N. Bk. C. of N.Y.New York Court of Appeals · 1940
- Unertl v. BezansonSupreme Court of Iowa · 1987
4 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Eldred v. McGladrey, Hendrickson & PullenSupreme Court of Iowa · 1991
- Harriet & Henderson Yarns, Inc. v. CastleDistrict Court, W.D. Tennessee · 1999