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Down to the wire

机译:深入到电线

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摘要

This is a story about a million-dollar race-horse, financial bankruptcy and long-running litigation over a wire transfer mistake involving a Kentucky Bank. It is also a lesson about how several courts interpreted the Uniform Commercial Code and the Restatement of Restitution in relation to whether a beneficiary will get to keep funds that have been sent in error. In 1986 Calumet Farms purchased a one-half interest in a thoroughbred stallion named Mogambo. The $6.5 million promissory note which Calumet gave to the horse's owner, Peter Brant of White Birch Farms, was called the "Mogambo Note." In 1990, due to escalating financial debts, Calumet defaulted on its annual payment of $1,300,000 on the Mogambo Note. In the spring of 1991, Calumet's owner, J.T. Lundy, told the bookkeeper, Angela Holleran, to pay the interest due to White Birch Farm in the amount of $77,301.58.
机译:这是一个有关一百万美元的赛马,金融破产以及涉及肯塔基银行的电汇错误长期诉讼的故事。这也是关于几家法院如何解释《统一商业法》和《恢复原状的重述》的一课,有关受益人是否会保留错误寄出的资金。 1986年,Calumet Farms购买了名为Mogambo的一匹良种马的一半权益。卡卢梅特给马的主人白桦农场的彼得·布兰特的650万美元本票被称为“莫甘博纸币”。 1990年,由于不断增加的金融债务,Calumet拖欠了Mogambo债券的每年1,300,000美元的欠款。 1991年春天,Calumet的所有者J.T.隆迪告诉簿记员安吉拉·霍莱兰(Angela Holleran),要付白桦农场的利息77,301.58美元。

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