Court of Appeals for the Eighth Circuit June 24, 2003, 01-2147, 02-1045, 02-1491 (General Motors Acceptance Corporation, Appellant/cross-Appellee v. Union Bank & Trust Company, Appellee/cross-Appellant)

RILEY, Circuit Judge.

General Motors Acceptance Corporation (GMAC) filed a lawsuit against Union Bank

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Trust Company (Union) alleging Union converted proceeds from the sale of GMAC’s collateral for its own use and benefit, and breached a Waiver of Rights of Offset Agreement (Waiver Agreement). GMAC sought compensatory and punitive damages.