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IN RE SENTINEL MANAGEMENT GROUP, INC.

No. 15-1039.

809 F.3d 958 (2016)

In re SENTINEL MANAGEMENT GROUP, INC., Debtor. Frederick J. Grede, as Liquidation Trustee of the Sentinel Liquidation Trust, Plaintiff-Appellant, v. Bank of New York Mellon Corp. and Bank of New York, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided January 8, 2016.

The plaintiff in this case, now in its eighth year, is the trustee of a bankrupt firm named Sentinel Management Group, Inc. Sentinel was what is called a cashmanagement firm: it invested cash, which had been lent it by persons or firms, in liquid low-risk securities. It also traded on its own account, using money borrowed...

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