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MATTER OF NEW ERA, INC.

Nos. 96-2036, 96-2854.

135 F.3d 1206 (1998)

In the Matter of NEW ERA, INC., Appeals of NEW ERA, INC. and PHOENIX INSURANCE COMPANY.

United States Court of Appeals, Seventh Circuit.

Decided February 9, 1998.

Attorney(s) appearing for the Case

William L. Berry, Dunham, Boman & Leskera, Belleville, IL, John L. Bitzer (argued), Dunham, Boman & Leskera, Collinsville, IL, for Appellant.

Donald M. Samson, Belleville, IL, for Trustee-Appellee.

Jeffrey S. Hebrank (argued), David John Gerber, Burroughs, Hepler, Broom, MacDonald & Hebrank, Edwardsville, IL, for Debtor-Appellee.

Steven N. Mottaz (argued), Thomas, Mottaz, Eastman & Sherwood, Alton, IL, for Appellees.

Before POSNER, Chief Judge, and EASTERBROOK and KANNE, Circuit Judges.

POSNER, Chief Judge.

These bankruptcy appeals have a tangled history, an unbelievable present, and no future. The tale begins in 1987, when three buildings owned by the Hamiltons and rented by New Era, a company that recaps tires, burned down. New Era's insurer, Phoenix Insurance Company, had issued it a liability policy that had a limit of $1 million. In 1989, the Hamiltons sued New Era in an Illinois state court for damage...

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