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MICHIGAN NAT'L BK. v. AMERICAN NAT'L BK. & T.

No. 60616.

34 Ill. App.3d 30 (1975)

339 N.E.2d 375

MICHIGAN NATIONAL BANK, Plaintiff-Appellee, v. AMERICAN NATIONAL BANK & TRUST COMPANY, Defendant-Appellee, Cross-Appellant. — (AMERICAN NATIONAL BANK & TRUST COMPANY, Defendant and Third-Party Plaintiff-Appellee, v. VALLEY BANK OF NEVADA, Third-Party Defendant-Appellant.)

Appellate Court of Illinois — First District (3rd Division).

November 6, 1975.

Attorney(s) appearing for the Case

Mark S. Lieberman and Jack B. Schmetterer, both of Gottlieb and Schwartz, of Chicago, for appellant Valley Bank.

Gary M. Elden and William J. Gibbons, both of Kirkland & Ellis, of Chicago, for appellee American National Bank & Trust Co.

George M. Covington, of Gardner, Carton & Douglas, of Chicago, for appellee Michigan National Bank.

Judgment affirmed.

Mr. PRESIDING JUSTICE McGLOON delivered the opinion of the court:

This appeal involves a lawsuit and a third-party action generated by the forgery of a payee's indorsement. The drawee, Michigan National Bank, reimbursed the drawer and sued the collecting bank, American National Bank & Trust Company, in the circuit court of Cook County upon American's warranty of good title and guarantee of prior indorsements. American filed a third-party...

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