Ted KATSAROS, et al., Plaintiffs,
v.
John CODY, et al., Defendants.
John CODY, et al., Third-Party Plaintiffs,
v.
Anthony G. ANGELOS, et al., Third-Party Defendants.
TEAMSTERS LOCAL 282 PENSION TRUST FUND, Second Third-Party Plaintiff,
v.
Anthony G. ANGELOS, et al., Second Third-Party Defendants.
Raymond J. DONOVAN, Secretary of the United States Department of Labor, Plaintiff,
v.
John CODY, et al., Defendants.
John CODY, et al., Third-Party Plaintiffs,
v.
Anthony G. ANGELOS, et al., Third-Party Defendants.
TEAMSTERS LOCAL 282 PENSION TRUST FUND, Second Third-Party Plaintiff,
v.
Anthony G. ANGELOS, et al., Second Third-Party Defendants.
United States District Court, E.D. New York.https://leagle.com/images/logo.png
July 21, 1983.
July 21, 1983.
Attorney(s) appearing for the Case
Hall, Clifton & Schwartz, New York City, for plaintiffs Katsaros, et al.; Arthur Z. Schwartz, New York City, of counsel.
Richard P. Carr, Ellen L. Beard, Washington, D.C., for plaintiff U.S. Dept. of Labor.
Wilson, Elser, Edelman & Dicker, New York City, for defendant trustees and third-party plaintiffs; Edward J. Boyle, New York City, of counsel.
O'Connor & Mangan, P.C., Long Island City, N.Y., for defendant Teamsters Local 282 Pension Trust Fund and second third-party defendant; J. Warren Mangan, Long Island City, N.Y., of counsel.
Davis & Davis, New York City, for third-party defendant Angelos; Harold Davis, New York City, of counsel.
Townley & Updike, New York City, Kirkland & Ellis, Chicago, Ill., for third-party defendant Howe; James K. Leader, New York City, Bruce A. Featherstone, Chicago, Ill., of counsel.
Barnett & Beigel, Ltd., Chicago, Ill., Javits, Hinckley, Rabin & Engler, New York City, for third-party defendants Jensen and Karkazis; Ira J. Bornstein, New York City, of counsel.
Stroock & Stroock & Lavan, New York City, Jerome H. Torshen, Chicago, Ill., for third-party defendant Kirie; Janet F. Gerske, Chicago, Ill., of counsel.
Skadden, Arps, Slate, Meagher & Flom, New York City, for third-party defendant Jenner & Block; Michael W. Mitchell, New York City, of counsel.
United States District Court, E.D. New York.
MEMORANDUM OF DECISION AND ORDER
MISHLER, District Judge.
In February and March of 1979 the trustees of the Teamsters Local 282 Pension Trust Fund ("Trustees"), approved and disbursed a loan of $2 million to the Des Plaines Bankcorporation, Inc. ("Bankcorporation"), a bank holding company. The loan was secured by all the stock in the Des Plaines Bank ("Bank"), a wholly-owned subsidiary of Bankcorporation. Following the closing of the Bank by federal and...
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