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FIRST WISCONSIN TRUST CO. v. SCHROUD

No. 89-2602.

916 F.2d 394 (1990)

FIRST WISCONSIN TRUST COMPANY, Plaintiff-Appellee, v. Donald F. SCHROUD, Selim N. Mayer, and State and Savings Bank, as Trustee under Trust Agreement dated August 15, 1986, and known as Trust No. 109, Defendants-Appellants.

United States Court of Appeals, Seventh Circuit.

Decided October 18, 1990.

Attorney(s) appearing for the Case

David I. Herbst, Raymond J. Werner, Jodi I. Firfer, Ronald A. Damashek, Portes, Sharp, Herbst, Kravets & Fox, Chicago, Ill., for plaintiff-appellee.

Anthony C. Valiulis, Arthur E. Rosenson, Much, Shelist, Freed, Denenberg, Ament & Eiger, Chicago, Ill., for defendants-appellants.

Before CUDAHY, KANNE, Circuit Judges, and PELL, Senior Circuit Judge.

KANNE, Circuit Judge.

First Wisconsin Trust Company ("First Wisconsin") sought to recover from Donald Schroud, Selim Mayer, and State and Savings Bank ("Schroud and Mayer" collectively) the sum of $105,709.46 in deferred interest payments. These interest payments were owed to First Wisconsin by Schroud and Mayer who inadvertently received them — and, thereafter, purposefully retained them — as part of the proceeds...

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