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United States Second Circuit

Oxford University Bank v. Lansuppe Feeder, Inc. , 16-4061

Affirmed. Financial institutions that hold junior notes issued by the defendant, as trustee, appeal the grant of summary judgement. The district court erred in holding that ICA § 47(b) does not give rise to a private right of action. However, the district court ordered distribution of the assets of the trust according to the terms of the trust’s governing indenture, so summary judgment affirmed.

Appellate Information

  • Decided
  • Published 2019/08/05


  • Leval


  • United States Second Circuit


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