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Ohio Court Refuses To Dismiss Claims Against Bank For Allegedly Unauthorized And Unverified ACH Debits

LexisNexis (July 5, 2018, 2:16 PM EDT) -- A recent decision from an Ohio federal district court allows an insurer of two limited partnerships to proceed to trial on UCC claims involving allocation of loss for unauthorized/unverified funds transfers. The Ohio case is the most recent application of the UCC Article 4A rules.

The Ohio case. In Federal Ins. Co. v. Benchmark Bank, 2018 U.S. Dist. LEXIS 11152 (S.D. Ohio 2018), the plaintiff was Federal Insurance Company in its role as subrogee of two limited partnerships affiliated with Woda Management. In March 2011, Woda...
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