RESOLUTION TRUST CORPORATION, Plaintiff-Appellant,
v.
Francis X. GALLAGHER, Vincent J. Gavin, John J. Gill, John W. Gilluly, Gordon A. Groebe, Joseph M. Heidecker, Lawrence Klingler, Louis J. Kole, Gary K. Kummer, Matthew J. Lamb, H. Richard Landis, Edward A. Long, and Milton Meyers, Defendants-Appellees.
United States Court of Appeals, Seventh Circuit.https://leagle.com/images/logo.png
Argued June 3, 1993.
Decided November 9, 1993.
Rehearing and Rehearing Denied December 8, 1993.
Attorney(s) appearing for the Case
Stephen Novack (argued), Timothy J. Miller, Novack & Macey, Alan F. Curley, Fay Clayton, Steven A. Ramirez, Robinson, Curley & Clayton, Chicago, IL, for Resolution Trust Corp.
Raymond H. Groble, III, Sean M. Sullivan, Ross & Hardies, Chicago, IL, for Francis X. Gallagher.
Gordon B. Nash, Jr., Gardner, Carton & Douglas, Chicago, IL, for Vincent J. Gavin.
Edmund P. Burke, Thomas M. Lake, Burke & Burke, Ltd., Chicago, IL, for John J. Gill.
George W. Groble, Donald G. Groble, Daniel F. Marren, Kimberly M. Kash, Groble & Groble, Chicago, IL, for John W. Gilluly.
Michael D. Walsh, Lawrence Schindler, Gierach, Schussler & Walsh, Ltd., Oak Lawn, IL, for Gordon A. Groebe.
Royal B. Martin, Jr., Daniel T. Hartnett, Martin, Brown, Sullivan & Bowman, Locke E. Bowman, III, University of Chicago Law School, Chicago, IL, for Joseph M. Heidecker.
Susan Bogart, Sulzer & Shopiro, Chicago, IL, for Lawrence Klinger.
Edward P. Freud, Dean J. McElroy, William B. Weidenaar, Ruff, Weidenaar & Reidy, Chicago, IL, for Louis J. Kole.
Donald L. Mrozek, Peter D. Sullivan, John J. Foran, Hinshaw & Culbertson, Chicago, IL, Daniel M. Purdom, Hinshaw & Culbertson, Lisle, IL, for Gary K. Kummer.
Michael J. O'Rourke, Bruce R. Braun (argued), Robert W. Tarun, Winston & Strawn, Chicago, IL, for Matthew J. Lamb and H. Richard Landis.
George P. Lynch, Downers Grove, IL, for Edward A. Long and Milton Meyers.
Stuart J. Baskin, Joseph F. Haggerty, William F. Ranieri, James R. Warnot, Jr., Shearman & Sterling, New York City, for amicus curiae, American Bankers Ass'n, Ass'n of Bank Holding Companies, and Independent Bankers Ass'n of America.
Before BAUER, CUDAHY, and KANNE, Circuit Judges.
United States Court of Appeals, Seventh Circuit.
Rehearing and Rehearing En Banc Denied December 8, 1993.
KANNE, Circuit Judge.
In 1990, the Resolution Trust Corporation ("RTC")1 placed the Concordia Federal Bank for Savings ("Concordia"), a federally chartered and federally insured thrift into receivership. On February 14, 1991, the RTC filed this action against the former directors and officers of Concordia. The complaint sought to...
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