BUNGE CORP. v. NORTHERN TRUST CO.

No. 4-93-0144.

623 N.E.2d 785 (1993)

252 Ill. App.3d 485

191 Ill.Dec. 195

BUNGE CORPORATION, Plaintiff-Appellee, v. The NORTHERN TRUST COMPANY, as Trustee of the Howard J. Lauhoff Residuary Trust No. 2-26873 and the Bernice D. Lauhoff Trust No. 1-48434, or Their Successors, said Trusts Being Successors to the Estate of Howard J. Lauhoff, Robert L. Burke, John M. Means and Andrew A. Young, Defendants-Appellants and Mary Blake, Individually, and as Custodian for Therese M. Blake, James F. Blake, Individually, and as Custodian for Joshua J. Blake and Lucas A. Blake, Gretchen M. Blake, Jane M. Blake, Mollie Anne Blake, Floyd W. Brown, John F. Carroll, Mary K. Crowley, Individually and as Custodian for Kathryn C. Crowley and Stacy J. Crowley, James G. Davis, Eagle Company, David J. Federspiel, Individually and as Custodian for John Nolan Federspiel and Therese M. Federspiel, Janice Federspiel, John B. Federspiel, Susan Federspiel, Louis Holmes, Gretchen M. Lapham, Maurice R. Linn, Frank L. Marsh, Mary Parker, Individually and as Custodian for Eric M. Parker, Matthew Parker and Tod F. Parker, Ann Paul, Individually and as Custodian for Brian B. Paul, Eric C. Paul and Tamara A. Paul, Susan Spicer, Gerald E. Stitt, Marie L. Wolstenholme, Chester A. Woodworth, Individually and as Custodian for Aaron C. Woodworth, Paul A. Woodworth and Peter A. Woodworth, Jane Woodworth, Individually and as Custodian for Mark S. Woodworth, Paul C. Woodworth, Grace W. Young, Individually and as Custodian for Elizabeth W. Young and Heather W. Young, Dr. John G. Young, Kathe Young, Katherine Michelle Young, Kathryn S. Young, Individually and as Custodian for Danielle Young and Nolan S. Young, Michael C. Young, Muriel W. Young, Nancy W. Young, Individually and as Custodian for Robert G. Young, Patrick J. Young, Kevin M. Young, Lisa Ann Young, and Michael C. Young, Jr., Samuel H. Young, Jr., Thomas N. Young, William J. Young, Robert D. Young, John J. Young, as Trustee for the Mary Teipel Trust Dated March 7, 1962, John F. Young 1978 Trust, John Francis Young Income Trust, Robert D. Young Income Trust, Samuel H. Young Income Trust, Thomas N. Young Income Trust, William J. Young Income Trust and John D. Wilkinson, Defendants.

Appellate Court of Illinois, Fourth District.

Decided October 22, 1993.


Attorney(s) appearing for the Case

Steven M. Helm, Dukes, Martin, Helm & Ryan, Ltd., Danville, Stephen C. Sandels (argued), McDermott, Will & Emery, Chicago, for defendants-appellants.

Stephen R. Patton (argued), David T. Erie, Kirkland & Ellis, Chicago, Howard W. Small, Thomas, Mamer & Haughey, Champaign, for plaintiff-appellee.


Justice McCULLOUGH delivered the opinion of the court:

This case involves the interpretation of a stock purchase agreement and whether plaintiff Bunge Corporation (Bunge) is entitled to a purchase price adjustment under the terms of that stock purchase agreement. The trial court held Bunge was so entitled and entered judgment in the amount of $587,916.40. We affirm.

In 1978, Bunge began acquisition negotiations to purchase Lauhoff Grain Company (Lauhoff),...

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