United States Eighth Circuit

In a class action against a railroad alleging breach of contract, fraud, and unjust enrichment on account of its failure to make a required year's interest payment, dismissal of the action is affirmed where: 1) although Section 316 of the Trust Indenture Act grants plaintiff the absolute right to sue for unpaid interest without having to first comply with a no-action clause; 2) nevertheless plaintiffs' claims were barred by the applicable statutes of limitation; and 3) tolling did not apply.

Appellate Information

• Decided 06/29/2007
• Published 06/29/2007

Judges

• BOWMAN, Circuit Judge., Before RILEY, BOWMAN, and ARNOLD, Circuit Judges.

Court

• United States Eighth Circuit

Counsel

• For Appellant:
  
• Counsel who presented argument on behalf of the appellant was Michael D. Pospisil of Kansas City, MO.  John M. Edgar and Daniel R. Young of Kansas City appeared on the brief.


• For Appellees:
  
• Counsel who presented argument on behalf of the appellee was Bartholomew L. McLeay of Omaha, NE.  Leslie A. Greathouse of Kansas City, MO on the brief.