Tuesday, September 06, 2011

Seventh Circuit -- Wells Fargo Bank, Na v. Lake of th

When a security indenture for a corporation owned by a sovereign Indian tribe is voided for lack of prior federal agency approval, the waiver of sovereign immunity in the indenture is also voided, leaving the District Court with no subject matter jurisdiction. 

Remanded for determination of whether supporting documents evince waiver.


Wells Fargo Bank, Na v. Lake of the Torches Economic Development Corporation
Compiled by D.E. Frydrychowski, who is, not incidentally, not giving you legal advice.

Category tags above are sporadically maintained Do not rely. Do not rely. Do not rely.

Author's SSRN page here.