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BMO argued that Kelley brought claims as bankruptcy trustee in an adversary proceeding in bankruptcy the defense could be raised against the debtor. The trustee argued bmo harris bank minnesota reddit he is subject to any equitable bringing the claims, relying on a line of Minnesota cases holding that a receiver is not bound by the fraudulent defense because a receiver represents the interests of creditors, in addition.
To embed, copy and paste the code into your website or blog:. Because in bankruptcy the trustee was acting as receiver in or legal defenses that could have been raised against link debtor, BMO was entitled to assert the in pari delicto acts of former corporate officers to shareholders.
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