D-225 at 109. According to the loan documents, BFLLC received a security interest in the Pledged Stock as collateral for the loans, but BFLLC no longer owned the stock, an arrangement that created immediate tax benefits for BAI. The Fifth Circuit has not yet addressed this issue, but “every court to consider it has rejected the argument that ESOP acquisition loans should be discounted below face value for purposes of calculating damages because the debt is unlikely to be repaid.” Chesemore, 948 F.Supp.2d at 943; see Henry v. U.S. Trust Co. of Cal., N.A., 569 F.3d 96, 100 n. 4 (2d Cir.2009) (rejecting argument that ESOP-acquisition loan should be deducted from plan losses because company later forgave loan and repurchased stock as part of ESOP termination); Neil, 767 F.Supp.2d at 941-42 (<HOLDING>); Valley Nat’l Bank of Ariz., 837 F.Supp. at
holding that a purchase money security in jewelry was not lost when the perfected purchase money security interest was consolidated with a subsequent retail installment contract holding that it was a violation of maryland rules 16607 and 16609 for an attorney to borrow money in the form of a home equity loan and to then deposit the borrowed money into his trust account in order to pay the amount owed to his client holding in case where stock was purchased but held in suspense account pending repayment of loan from seller that the fact that the money to purchase the now worthless stock was borrowed does not mean that money was not lost holding when defendant raised affirmative defense of total failure of consideration that even assuming the acquired stock became worthless the worthlessness of the stock did not constitute a failure of consideration when in exchange for note defendant received 2500 shares of stock   as well as all the rights privileges and benefits of a shareholder director and officer emphasis supplied punctuation omitted holding that there was no presumption of a gift where the wifes money was used to make the purchase but title was placed in the name of the husband and finding the facts sufficient to establish a purchase money resulting trust in favor of the wife