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ILL. DEPT. OF FINANCIAL INST. v. COBB

No. 1-685A151.

488 N.E.2d 367 (1986)

DIRECTOR OF THE ILLINOIS DEPARTMENT OF FINANCIAL INSTITUTIONS, Appellant (Defendant and Cross-Defendant below), v. Roy C. COBB, Receiver of the Verona Coal Company Bondholders' Protective Committee, Appellee (Plaintiff and Counter-Defendant below), and the Citizens National Bank of Evansville, Appellee (Defendant and Counter-Plaintiff below), and Commissioner of Revenue for the State of Alabama, et al, Defendants.

Court of Appeals of Indiana, First District.

January 29, 1986.

Attorney(s) appearing for the Case

Neil F. Hartigan, Atty. Gen., Roma Jones Stewart, Sol. Gen., Rita M. Novak, Asst. Atty. Gen., Chicago, Ill., Harry John Watson III, Deputy Atty. Gen., Indianapolis, for appellant.

Terry G. Farmer, Bamberger, Foreman, Oswald & Hahn, Evansville, for appellee.

ROBERTSON, Presiding Judge.

The appellant-defendant Director of the Illinois Department of Financial Institutions (Director) is appealing from the granting of a summary judgment in favor of the appellee-defendant Citizens National Bank of Evansville (Bank).

A brief background of the facts giving rise to this appeal is that the appellee-plaintiff Verona Coal Company Bondholders' Protective Committee (Committee) was formed in 1930 for the general purpose of...

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