Central Bank of Denver, N.A. v. First Interstate Bank of Denver, N.A.
United States Supreme Court
511 U.S. 164 (1994)
The Colorado Springs-Stetson Hills Public Building Authority (Authority) issued bonds to finance a real estate development in 1988. Central Bank of Denver (defendant) was the trustee for the bonds. This position required Central Bank to determine whether Authority was in a sound financial state. In 1988, Authority defaulted on the bonds. First Interstate Bank of Denver (plaintiff) then brought suit against Central Bank, alleging that it had aided and abetted Authority with securities fraud in violation of § 10(b) of the Exchange Act. The lower court ruled in favor of First Interstate. Central Bank then petitioned for certiorari to the United States Supreme Court.
Rule of Law
Holding and Reasoning (Kennedy, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 168,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 13,800 briefs, keyed to 187 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.