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Fifth Third Bank Loses Arbitration After Buying MB & Celtic Now Delay in 2d SDNY Case

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."

 Now on June 2, the parties propose to extend the time to respond to the Petition to July 3.

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

This case is Fifth Third Bank, N.A. v. Todd, 21-cv-4105 (Rakoff).  Inner City Press is also following an ongoing case by the FDIC against Fifth Third Bank, watch this site.

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