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Creditor’s Rights – Escrow Account – Waterfront Project – Bank ‘Customer’

Saying disappointed investors’ suit, if successful, would make a “shambles” of the banking industry, a Roanoke U.S. District Court dismisses the non-customer investors’ claim that the bank agreed to act as an escrow agent just because it knew the investment funds were to be escrowed for a waterfront development.
Scott v. Branch Banking & Trust Co. (Conrad, J.) No. 7:08cv00515, Dec. 5, 2008; USDC at Roanoke, Va. VLW 008-3-544, 18 pp.

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