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IN RE SCHIPPER

No. 90-1506.

933 F.2d 513 (1991)

In re Kenneth G. SCHIPPER, Debtor. FULTON STATE BANK, an Illinois banking corporation, individually and derivatively, Appellant, v. George SCHIPPER, et al., Appellees.

United States Court of Appeals, Seventh Circuit.

Decided May 22, 1991.

Attorney(s) appearing for the Case

Thomas J. Potter, Morrison, Ill., for appellant.

Stephen Balsley, Barrick, Switzer, Long, Balsley & Vanevera, Bernard J. Natale, Rockford, Ill., John S. Callas, Klockau, McArthy, Ellison & Marquis, Rock Island, Ill., for appellees.

Before BAUER, Chief Judge, FLAUM, Circuit Judge, and ESCHBACH, Senior Circuit Judge.

BAUER, Chief Judge.

The issue in this bankruptcy appeal is the propriety of a land sale made by the debtor, Kenneth Schipper. Our story begins in May 1988, two months before Schipper filed for bankruptcy. Early that month, Schipper got an offer from John Dornfeld for some land that Schipper owned in Rock Island County, Illinois. Dornfeld offered Schipper $45,830 for two tracts of land that abutted Dornfeld's property. Schipper was quite interested, and had his attorney...

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