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ARMSTRONG v. RESOLUTION TRUST CORP.

No. 3-91-0737.

599 N.E.2d 1209 (1992)

234 Ill. App.3d 162

175 Ill.Dec. 195

Ralph E. ARMSTRONG and Rema J. Armstrong, Plaintiffs-Appellees, v. RESOLUTION TRUST CORPORATION, as Receiver for Chillicothe Federal Savings and Loan Association, Defendant-Appellant.

Appellate Court of Illinois, Third District.

Rehearing Denied October 8, 1992.

Attorney(s) appearing for the Case

Ronald M. DeHaan (argued), Randolph E. Ruff (argued), DeHaan & Richter, P.C., Chicago, Christopher Bellotto, F.D.I.C., Washington, D.C., and Gregory S. Bell, Sutkowski & Washkuhn Assoc., Peoria, for Resolution Trust Corp.

Thomas E. Leiter (argued) and Sandra J. Birdsall (argued), The Leiter Group, Peoria, for Ralph E. and Rema J. Armstrong.

Justice GORMAN delivered the Opinion of the court:

Plaintiffs sued a savings and loan association, alleging that fraudulent misrepresentations were made in conjunction with the transfer of some land by plaintiffs to a third party. The jury awarded $1,133,000 and defendant appeals. We reverse.

I. Facts

On August 8, 1978, Ralph and Rema Armstrong obtained a mortgage from Chillicothe Federal Savings & Loan ("Chillicothe Federal") to finance construction...

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