Bank has Duty to Investigate Apparent Ponzi Scheme

Seventh Circuit holds that the best reading of the co-debtor stay under § 1301 involves shielding non-filing co-debtors from actions to collect on the consumer debts only of the filing debtor.

Smith v. Capital One Bank (USA), N.A., 845 F.3d 256 (7th Cir. 2016).

Read the decision here. 

This article was written by Wes Overturf and is orginally posted on his blog. This was published with permission. If you would like to write or submit an article, please contact Kim Ferguson at Kferguson@indybar.org.