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HERITAGE ST. BANK AND TRUST CO. v. HERITAGE ST. BANK AND TRUST CO.

No. 85-0521.

149 Ill. App.3d 563 (1986)

500 N.E.2d 60

HERITAGE STANDARD BANK AND TRUST COMPANY, Plaintiff-Appellant and Cross-Appellee v. HERITAGE STANDARD BANK AND TRUST COMPANY, as Trustee, et al., Defendants-Appellees and Cross-Appellants.

Appellate Court of Illinois — Second District.

Rehearing denied November 26, 1986.

Attorney(s) appearing for the Case

Eugene G. Callahan and Matthew W. La Koma, both of Callahan, Fitzpatrick, Hirst & La Koma, of Oak Brook, and Francis D. Morrissey, Thomas F. Bridgman, George H. Olsen, and Michael A. Pollard, all of Baker & McKenzie, of Chicago, for appellant.

Mark R. Valley and Robert D. Boyle, both of Murphy & Boyle, Chartered, of Chicago, for appellees.

Reversed and remanded.

JUSTICE SCHNAKE delivered the opinion of the court:

Plaintiff, Heritage Standard Bank and Trust Company (the bank), sought entry of a deficiency judgment against defendants, David and Mary Callaghan, following the foreclosure and sale of the beneficial interest in a certain land trust which the Callaghans had assigned to the bank as collateral for a promissory note. The trial court refused to grant a deficiency judgment, and the bank...

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