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EASTERN ILLINOIS TRUST & SAV. BANK v. SANDERS

No. 84 C 4579.

631 F.Supp. 1393 (1986)

EASTERN ILLINOIS TRUST & SAVINGS BANK, a State Bank Chartered Under the Laws of the State of Illinois, Plaintiff, v. James C. SANDERS, Administrator of the Small Business Administration, et al., Defendants.

United States District Court, N.D. Illinois, E.D.

April 2, 1986.

Attorney(s) appearing for the Case

Jeffrey D. Colman and Norman M. Hirsch, Jenner & Block, Chicago, Ill., for plaintiff.

Linda A. Wawzenski, Asst. U.S. Atty., Chicago, Ill., for defendants.

MEMORANDUM AND ORDER

MORAN, District Judge.

BACKGROUND

On May 30, 1984, Eastern Illinois Trust & Savings Bank of Momence, Illinois ("Eastern") filed a complaint against the Small Business Administration ("SBA") and its administrator, James C. Sanders, seeking damages for the SBA's refusal to honor its contractual obligation to purchase a 90 per cent share of three SBA-guaranteed loans which had...

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