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MITSUI TAIYO KOBE BANK v. FIRST NAT. REALTY & DEV., CO.

No. 91 C 6629.

788 F.Supp. 1007 (1992)

The MITSUI TAIYO KOBE BANK, LTD., as successor by merger to The Taiyo Kobe Bank, Ltd., Plaintiff, v. FIRST NATIONAL REALTY AND DEVELOPMENT COMPANY, INC., an Illinois corporation; Demetrios Dellaportas; Theodora Dellaportas; Jon Goldstein; Maria Dellaportas Goldstein; Diana Dellaportas; Peter Dellaportas; Diane Dellaportas; Thomas Dellaportas; Michelle Dellaportas; Lefkas General Partners No. 1007; and Lefkas General Partners No. 1012, Defendants.

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

March 30, 1992.

Attorney(s) appearing for the Case

Steven H. Frankel, Alan Scott Gilbert, Elpidio R. Villarreal, Jonathan B. Piper, Sonnenschein, Nath & Rosenthal, Chicago, Ill., for plaintiff.

Thomas Patrick Egan, Chapman & Cutler, John Henry Wickert, Kenneth M. Lodge, Burke, Smith & Williams, Vincent Dominick Pinelli, Burke, Burns, Ellison & Pinelli, Ltd., Chicago, Ill., for defendants.

MEMORANDUM AND ORDER

MORAN, Chief Judge.

Defendants in this action are guarantors of a loan made by plaintiff, Mitsui Taiyo Kobe Bank, Ltd. (MTKB), to finance a construction project in Merrillville, Indiana. MTKB brought this diversity action for payment on the guaranty and now defendants move for a dismissal or stay of plaintiff's complaint pending resolution of a related foreclosure proceeding in an Indiana state court. For the reasons set forth below...

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