Legal Opinion
Peterson v. McGladrey & Pullen, LLP
Court of Appeals for the Seventh Circuit
Decided April 3, 2012No. 10-3770PublishedCited by 48 opinions
1Opinion of the Court
EASTERBROOK, Chief Judge.
In 2002 Gregory Bell established five mutual funds, known as the Lancelot or Colossus group. We call them “the Funds.” They raised about $2.5 billion, which they reinvested in businesses such as Thousand Lakes, LLC, that claimed to act as commercial factors. (For simplicity we use Thousand Lakes as the only exemplar.) The Funds told their investors that Thousand Lakes loaned money to operating businesses on the security of their inventories.
Most of the firms to which the Funds routed money were controlled by Thomas Petters. He was running a Ponzi scheme. There was no…
2Cases cited17 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- New Hampshire v. MaineSupreme Court of the United States · 2001
- Gomez v. ToledoSupreme Court of the United States · 1980
- Raleigh v. Illinois Department of RevenueSupreme Court of the United States · 2000
- Official Committee of Unsecured Creditors v. R.F. Lafferty & Co., Inc. Cogen Sklar, L.L.PCourt of Appeals for the Third Circuit · 2001
12 more not listed; retrieve them via the Exa API.
3Cited by48 opinions
- Mission Measurement Corp. v. Blackbaud, Inc.District Court, N.D. Illinois · 2016
- Peterson ex rel. Estates of Lancelot Investors Fund, L.P. v. Somers Dublin Ltd.Court of Appeals for the Seventh Circuit · 2013
- Stoebner v. Ritchie Capital Management, L.L.C. (In re Polaroid Corp.)United States Bankruptcy Court, D. Minnesota · 2012
- In re Fluidmaster, Inc.District Court, N.D. Illinois · 2016
- Mason v. Costello (In re Klarchek)United States Bankruptcy Court, N.D. Illinois · 2014
43 more not listed; retrieve them via the Exa API.