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TOWER ASPHALT, INC. v. GORDON

Civ. No. 3-92-674.

840 F.Supp. 673 (1993)

TOWER ASPHALT, INC., Tower Asphalt, Inc. D.B. Pension Plan, and Robert Springer and Ron Hockin, as trustees of the Tower Asphalt, Inc. D.B. Pension Plan, Plaintiffs, v. Eugene GORDON, Cole-Taylor Bank, Employers Affiliated Trust of Illinois, Beaven/Inter-American Companies, Inc., A.A. Beaven & Company, Ltd. and Inter-American Life Insurance Company, Defendants.

United States District Court, D. Minnesota, Third Division.

July 9, 1993.

Attorney(s) appearing for the Case

Michael A. Hatch, Hatch Eiden & Pihlstrom, Kristine L. Eiden, Minneapolis, MN, for Tower Asphalt, Inc.

David B. Bayless, Mark L. Yeager, Nancy G. Ross, McDermott Will & Emery, Chicago, IL, David Powell Pearson, Thomas H. Boyd, Robert Shea Soskin, Suzanne M. Spellacy, Winthrop & Weinstine, St. Paul, MN, Richard C. Jones, Jr., Arlington Hts., IL, Morton Denlow, Dardick & Denlow, Chicago, IL, for Cole-Taylor Bank.

Clarance Edward Hagglund, Britton D. Weimer, James Rodrick Harries, Hagglund & Weimer, Minneapolis, MN, for Beaven/Inter-American Companies, Inc. A.A. Beaven & Co., Ltd.

MAGNUSON, District Judge.

INTRODUCTION

This matter is before the court on defendant Cole Taylor Bank's motion to dismiss. For the following reasons defendant's motion is granted in part and denied in part.

BACKGROUND

Tower Asphalt is a Minnesota corporation involved in the construction business. Tower Asphalt established a defined benefit plan, Tower Asphalt D.B. Pension Plan for its employees. This plan invested in a group annuity contract...

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