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Home / Opinion / 10-1666 & 10-1915 CFTC v. Lake Shore Asset Management, Ltd.

10-1666 & 10-1915 CFTC v. Lake Shore Asset Management, Ltd.

Civil Procedure Excusable neglect Where a sophisticated bank failed to timely submit a claim after notification from the receiver of assets, the district court properly denied its untimely claim. “Andbanc’s negligence went beyond the omission of Mora’s name on the account statement. Its casual assumption, when it learned that Lake Shore’s assets had been frozen, that it need ...

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