THE 2416 CORPORATION, Plaintiff-Appellant,
v.
CHICAGO TRANSIT AUTHORITY, Defendant and Counterplaintiff-Appellee. — (THE FIRST NATIONAL BANK OF CHICAGO, TRUSTEE, Defendant and Counterdefendant-Appellant.) — LOIS BECK, Plaintiff-Appellant,
v.
CHICAGO TRANSIT AUTHORITY, Defendant and Counterplaintiff-Appellee. — (THE FIRST NATIONAL BANK OF CHICAGO, TRUSTEE, Defendant and Counterdefendant-Appellant, HARRIS TRUST AND SAVINGS BANK, TRUSTEE, Intervening Petitioner.)
Appellate Court of Illinois — First District (5th Division).https://leagle.com/images/logo.png
January 24, 1975.
Opinion modified upon denial of rehearing April 11, 1975.
Attorney(s) appearing for the Case
Leonard M. Ring, of Chicago, for plaintiff-appellant Lois Beck.
Jack S. Levin and Tefft W. Smith, of Chicago (Kirkland & Ellis, of counsel), for defendant-appellant The First National Bank of Chicago.
DeWolfe, DeWolfe & Markley, of Chicago (John C. DeWolfe, Jr., of counsel), for plaintiff-appellant The 2416 Corporation.
Ralph F. Huck and Richard A. Makarski, of Chicago (Chapman and Cutler, of counsel), for intervening petitioner-appellee Harris Trust & Savings Bank.
Foran, Wiss & Schultz, of Chicago (Robert E. Wiss, of counsel), for defendant-appellee Chicago Transit Authority.
Appellate Court of Illinois — First District (5th Division).
Reversed in part and remanded.
Mr. JUSTICE SULLIVAN delivered the opinion of the court:
This is an appeal from an order construing certain provisions of a trust agreement.1 The original action was brought by Lois Beck and the 2416 Corporation as revenue bondholders of the Chicago Transit Authority (CTA) against The First National Bank of Chicago as trustee (Trustee) and the CTA. The Trustee, in turn, because the CTA had failed...
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