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LANIGAN v. APOLLO SAVINGS

No. 44742.

52 Ill.2d 342 (1972)

288 N.E.2d 445

JOHN J. LANIGAN, Commissioner of Savings and Loan Associations, v. APOLLO SAVINGS. — (FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION et al., Appellants, v. TRANSCONTINENTAL INSURANCE AGENCY, Inc., et al., Appellees.)

Supreme Court of Illinois.

Opinion filed October 2, 1972.

Attorney(s) appearing for the Case

WILLIAM J. SCOTT, Attorney General, of Chicago (FRANCIS T. CROWE, Assistant Attorney General, of counsel), for the Commissioner of Savings and Loan Associations.

ARTHUR W. LEIBOLD, JR., of Washington, D.C. and THOMAS R. MULROY and HOPKINS, SUTTER, OWEN, MULROY & DAVIS, of Chicago, for appellant Federal Savings and Loan Insurance Corp.

EDWARD SLOVICK, JAMES S. GORDON, and JAMES V. CREEN, all of Chicago (FEIWELL, GALPER & GORDON and EPTON, McCARTHY, BOHLING & DRUTH Ltd., of counsel), for Intervenor-appellant Heritage Finance Co.

JACOB H. MARTIN, SYDNEY G. CRAIG, JOHN I. HENTZEL, and MARTIN, CRAIG, CHESTER & SONNENSCHEIN, of Chicago, for appellees.

Reversed and remanded.

MR. JUSTICE KLUCZYNSKI delivered the opinion of the court:

This appeal is taken from a judgment of the circuit court of Cook County finding, inter alia, that claimant, Federal Savings and Loan Insurance Corporation (hereinafter FSLIC), was not entitled to interest as assignee of insured withdrawable capital account holders of defendant, Apollo Savings — a state-chartered association (hereinafter Apollo). This finding was...

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