June 3, 2020 / 7:39 PM / a month ago

Lender to Ponzi schemer Petters can renew claims against big banks - 8th Circuit

A federal appeals court on Wednesday revived a long-running lawsuit by Ritchie Capital Management to recoup losses on loans it made to Thomas Petters, the Minnesota businessman serving a 50-year prison term for running a multibillion-dollar Ponzi scheme.

In a 2-1 decision, the 8th U.S. Circuit Court of Appeals in Kansas City, Missouri said a lower court judge prematurely dismissed claims by three Cayman Islands-based Ritchie entities against JPMorgan Chase & Co and several other banks.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2MscMWE

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below