Headlines

A new lawsuit seeks to hold M&I Bank, now owned by BMO Harris Bank, responsible for allegedly enabling Minnesota businessman Tom Petters to orchestrate a Ponzi scheme that cheated investors out of several billion dollars, the Wall Street Journal reported on Saturday. Filed in a Florida bankruptcy court, the lawsuit seeks to recover nearly $24 billion from Chicago-based BMO Harris, which acquired M&I in 2011. The lawsuit says that Petters "did not act alone...

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About ABI

The American Bankruptcy Institute is the largest multi-disciplinary, non-partisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues.The ABI membership includes more than 13,000 attorneys, auctioneers, bankers, judges, lenders, professors, turnaround specialists, accountants and other bankruptcy professionals...More...