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Home / Opinion Digests / Creditor’s Rights – Escrow Account – Waterfront Project – Bank ‘Customer’ (access required)

Creditor’s Rights – Escrow Account – Waterfront Project – Bank ‘Customer’ (access required)

Although a Roanoke U.S. District Court agrees a bank doesn’t need a written agreement to assume the duties of an escrow agent, plaintiff investors’ claim that defendant bank knew it was serving as an agent for funds for a defunct Franklin County waterfront development did not make the investors “customers” of the bank and the ...

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