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CONTINENTAL BANK, N.A. v. MODANSKY

No. 90 C 1696.

129 B.R. 159 (1991)

CONTINENTAL BANK, N.A., Plaintiff, v. Sheldon MODANSKY, Aaron Modansky, Ajayem Investors Corp., Defendants.

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

July 9, 1991.

Attorney(s) appearing for the Case

Nathan P. Eimer, David M. Schiffman, John M. Czarnetzky, Sidley & Austin, Chicago, Ill., for plaintiff.

Leonard Zack, M. Scott Vayer, New York City, Sarah R. Wolff, Sachnoff & Weaver, Ltd., Chicago, Ill., for defendants.

ORDER

BUA, District Judge.

This is a case of guaranty agreements. Continental Bank, N.A. ("Continental") seeks to enforce these agreements against defendants Sheldon Modansky, Aaron Modansky, and Ajayem Investors Corporation ("Modanskys") in order to recover approximately $9,765,575, together with costs.

The facts alleged by the parties follow the usual pattern: Continental extended loans, in the form of lines of credit, to four lumber companies...

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