Monday, May 17, 2021

Fifth Third Bank Loses Arbitration After Buying MB Bank & Celtic So Now Sues in SDNY

By Matthew Russell Lee, Patreon

BBC - Guardian UK - Honduras - ESPN

SDNY COURTHOUSE, Nov 19 – Fifth Third Bank agreed to an arbitration about Celtic Leasing Corporation, which had been sold to MB Financial Bank, N.A., which Fifth Third was allowed to buy through merger.  

 Then when Fifth Third didn't like the artibitrator's finding that it violated the agreement between MB and Celtic, it filed a Federal case.  

 The case, in the docket of the U.S. District Court for the Southern District of New York where Inner City Press found it, asks that the Court "vacate the portion of the Award that found that Fifth Third breached."

 A conference has been set for June 9 at 11 am.

The case is Fifth Third Bank, N.A. v. Todd, 21-cv-4105 (Rakoff).

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