Legal Opinion
Grede v. Fcstone, LLC
District Court, E.D. Illinois
Decided January 23, 2018No. 09 C 136; No. 09 C 101; No. 09 C 115; No. 09 C 120; No. 09 C 127; No. 09 C 130; No. 09 C 135; No. 09 C 137; No. 09 C 138Published
1Opinion of the Court
REBECCA R. PALLMEYER, United States District Judge
These nine cases all arise from the decade-old bankruptcy of Sentinel Management Group, Inc. The facts surrounding Sentinel's collapse have been described in more than a dozen published opinions dating back to 2010. In short, Sentinel's managers failed to segregate client funds and securities in violation of federal law, regulations, and customer agreements. Instead, Sentinel pledged its clients' funds as collateral for loans from the Bank of New York ("BONY"), which Sentinel used to purchase even more securities on its own "house" account for…
2Cases cited14 opinions
- Matrix IV, Inc. v. American Nat. Bank & Trust Co.Court of Appeals for the Seventh Circuit · 2011
- United States v. Tommy AdamsCourt of Appeals for the Seventh Circuit · 2014
- Ernst & Young LLP and Charles J. Roach v. Baker O'Neal Holdings, Inc., and American Public Automotive Group, Inc.Court of Appeals for the Seventh Circuit · 2002
- Philip Morris USA Inc. v. ScottSupreme Court of the United States · 2010
- Grace M. Matteson, as Surviving of the Last Will and Testament of Edward M. Markham v. United StatesCourt of Appeals for the Second Circuit · 1956
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