United States Seventh Circuit
ADM Investor Servs., Inc. v. Collins, 06-4412
In an action brought by a futures commission merchant against a futures trader to collect on certain losses, a judgment against the trader is affirmed over his claims that: 1) an introducing broker paid the merchant about $75,000 under its contractual guarantee of the trades, and thus plaintiff was not the real party in interest; and 2) the soybean contracts at issue were "illegal" because on July 27, 2004, a margin call was outstanding on another of his trades.
Appellate Information
- Decided 02/07/2008
- Published 02/07/2008
Judges
- EASTERBROOK, Chief Judge., Before EASTERBROOK, Chief Judge, and BAUER and KANNE, Circuit Judges.
Court
- United States Seventh Circuit
Counsel
- For Appellees:
- Thomas M. Knepper (argued), Knepper & Gladney, Chicago, IL, for Plaintiff-Appellee., Craig E. Collins (argued), Topeka, KS, for Defendant-Appellant.