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CROWN LIFE INS. v. AMERICAN NAT. BK. AND TRUST CO.

No. 93-4026.

35 F.3d 296 (1994)

CROWN LIFE INSURANCE COMPANY, Plaintiff, v. AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO, et al., Defendants. TRI-CENTERS PROPERTIES, LTD., etc., Cross-Plaintiff/Appellee, v. Earle W. ARONSON, Cross-Defendant/Appellant.

United States Court of Appeals, Seventh Circuit.

Decided September 13, 1994.

Attorney(s) appearing for the Case

Michael Weininger, Lawrence M. Karlin, Katz, Randall & Weinberg, Chicago, IL, for Crown Life Ins. Co.

Michael D. Richman (argued), Nathan H. Dardick, Sachnoff & Weaver, Richard C. Jones, Jr., Malk & Harris, Chicago, IL, for Tri-Centers Properties, Ltd.

Tobin M. Richter (argued), Donald L. Johnson, Chicago, IL, for Earle W. Aronson.

Before FAIRCHILD, CUMMINGS and EASTERBROOK, Circuit Judges.

CUMMINGS, Circuit Judge.

This suit concerns the sale of three Illinois shopping centers originally purchased in 1986 by a Land Trust whose sole beneficiary was appellee Tri-Centers Properties, Ltd. ("Tri-Centers"). This purchase was financed by plaintiff Crown Life Insurance Company ("Crown Life") for approximately $3,000,000. In 1991 the shopping centers were sold by the Trust1 to appellant Earle W. Aronson for $4,300,000 payable in installments...

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