Wachovia Securities, LLC v. Banco Panamericano, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that by waiting until trial to address choice of law while asserting only Illinois law in their briefs, the defendants waived the issue
• piercing the defendant’s corporate veil to hold the individual defendants liable for the judgment, including the contractually obligated attorneys’ fees
• affirming veil piercing based on an individual defendant’s “domination of [the entity’s] decision-making,” which effectively made other officers and employees “nonfunctioning”
• sanctioning a fraud or injustice for piercing the corporate veil requires “something less than an affirmative showing of fraud,” but “something more than the mere prospect of an unsatisfied judgment”
• finding corporate looting after the price of a stock the company purchased on margin collapsed because it paid nearly $1.2 million to insiders or related entities rather than paying its creditors
• as to which State’s substantive law controls, a federal court sitting in diversity applies the choice-of-law rules of the forum state

Source: CourtListener parenthetical corpus (CC0).