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CHRISTISON v. GROEN

No. 83-2741.

740 F.2d 593 (1984)

William H. CHRISTISON, as Trustee of the bankrupt estate of Anthony A. Sutter, Plaintiff-Appellant, v. E.B. GROEN and Naomi Groen, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided August 9, 1984.

Attorney(s) appearing for the Case

Richard L. Steagall, Nicoara & Steagall, Peoria, Ill., for plaintiff-appellant.

Franklin L. Renner, O'Hern, Wombacher, Moon & Renner, Peoria, Ill., for defendants-appellees.

Before BAUER and CUDAHY, Circuit Judges, and KELLAM, Senior District Judge.

BAUER, Circuit Judge.

Happy Radio, a closely held corporation formally incorporated on May 14, 1980, entered an agreement with Defendants E.B. and Naomi Groen, sole shareholders of Bret Broadcasting Company, in April 1980 to buy all of the Groens' stock in Bret Broadcasting over a twelve-year period. During this period, Happy Radio had the right to manage Bret Broadcasting's radio station in Pontiac, Illinois. Plaintiff Sutter bought seventy percent of the shares...

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