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IN RE GRIFFIN TRADING CO.

No. 10-3607.

683 F.3d 819 (2012)

In re GRIFFIN TRADING COMPANY, Debtor. Appeal of Leroy G. Inskeep.

United States Court of Appeals, Seventh Circuit.

Decided June 25, 2012.

Attorney(s) appearing for the Case

Edward King Poor (argued), Attorney, Quarles & Brady LLP, Chicago, IL, for Farrel J. Griffin and Roger S. Griffin.

Catherine L. Steege (argued), Attorney, Jenner & Block LLP, Chicago, IL, for Leroy G. Inskeep.

Before EASTERBROOK, Chief Judge, and WOOD and TINDER, Circuit Judges.

WOOD, Circuit Judge.

Griffin Trading Company, a futures commission merchant, went bankrupt in 1998 after one of its customers, John Ho Park, sustained trading losses of several million dollars and neither Park nor Griffin Trading had enough capital to cover these obligations. This case turns on whether Farrel Griffin and Roger Griffin (whose first names we use for clarity), the partners in control of Griffin Trading, breached their fiduciary duties when they allowed...

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