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F.D.I.C. v. O'MALLEY

No. 1-90-1718.

618 N.E.2d 818 (1993)

249 Ill. App.3d 340

188 Ill.Dec. 248

FEDERAL DEPOSIT INSURANCE CORPORATION, Plaintiff-Appellee v. Michael J. O'MALLEY, Defendant-Appellant.

Appellate Court of Illinois, First District, Fifth Division.

Rehearing Denied August 10, 1993.

Attorney(s) appearing for the Case

David A. Novoselsky & Associates, Chicago (David A. Novoselsky, Linda A. Bryceland, of counsel), for defendant-appellant.

De Haan & Richter, P.C., Chicago (Marc J. Chalfen, of counsel), for plaintiff-appellee.

Justice COUSINS, JR. delivered the opinion of the court:

The defendant, Michael J. O'Malley (O'Malley), appeals from the final judgment of the circuit court entered against him and in favor of the plaintiff, the Federal Deposit Insurance Corporation (FDIC). On April 29, 1983, the First National Bank of Oak Lawn (the Bank) was closed due to insolvency, and the FDIC, in its corporate capacity, obtained the assets of the Bank for the purpose of liquidation. Among the...

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