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Paul Porvaznik – Business Litigator

Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)

Tag Archives: Moorman doctrine

Bank Customer’s Suit Versus Bank For Unauthorized On-Line Transfer Defeated by Economic Loss Rule

After a hacker accessed its on-line banking system and wired about $125,000 from its account, a healthcare firm sued its former (and now defunct) bank for breach of contract, negligence and breach of the implied duty of good faith and fair dealing. The FDIC substituted in as defendant after it was appointed receiver of the …

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Posted byPaulPJanuary 6, 2015January 9, 2015Posted inReal estate litigationTags: bank liability, duty of good faith and fair dealing, Economic Loss, Moorman doctrine, UCC Article 4A, unauthorized transfer
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