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Community Bank Funding Company
Florida Federal Court Confirms Dismissal of CMCD Patent Challenge by Indeco
August 16th, 2008
Yesterday, the United States District Court for the Southern District of Florida confirmed its earlier June 26, 2008 dismissal of the declaratory judgment complaint filed by Insured Deposit Conduit, LLC (Indeco) against Community Bank Funding Company and Robert Colvin for lack of jurisdiction, by denying Indeco's motion for reconsideration of the earlier dismissal order. Indeco's lawsuit involved the Capital Market CD (CMCD), a patented product created by Community Bank Funding Company (previously IPFS) to assist community banks in raising deposits. By way of background, beginning in 2003, Robert Colvin, the founder of Community Bank Funding Company...
Source: Law & Health Weekly (2008-08-16)
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