Friday, the Illinois Department of Financial and Professional Regulation, Division of Banking closed Wheatland Bank, headquartered in Naperville, Illinois, and the FDIC was appointed receiver.
On Friday, the Illinois Department of Financial Professional Regulation - Division of Banking closed Midwest Bank and Trust Company, headquartered in Elmwood Park, Illinois, and appointed the FDIC as receiver.
IN RE: MCKINNEY (June 23, 2010)
SMITH v. SIPI, LLC (July 27, 2010)
Longview Aluminum, LLC v Brandt (In re Longview Aluminum, LLC), 2010 WL 2635787 (ND Ill, June 28, 2010)
CASE SNAPSHOT
American Consolidated Transportation Companies, Inc v RBS Citizens NA (In re American Consolidated Transportation Companies, Inc), Adversary No 10-00154, Bankruptcy No 09-26062 (Bankr ND Ill July 13, 2010)
CASE SNAPSHOT
On October 5, 2010, Judge Bruce Black of the United States Bankruptcy Court for the Northern District of Illinois (the “Bankruptcy Court”) issued a ruling in the River Road Hotel Partner LLC, et. al. (the “Debtors”) bankruptcy cases denying the Debtors’ bid procedures motion incident to plan confirmation. The bid procedures motion, among other things, sought the denial of secured creditor’s right to credit bid.
Late this summer, the United States District Court for the Northern District of Illinois, Eastern Division, took on an issue of first impression – whether the fraud of one partner can be imputed to an “innocent” partner in order to render a judgment non-dischargeable.