ORIX REAL ESTATE CAPITAL MARKETS, LLC v. SUPERIOR BANK

No. 00 C 4841.

127 F.Supp.2d 981 (2000)

ORIX REAL ESTATE CAPITAL MARKETS, LLC, Plaintiff, v. SUPERIOR BANK, FSB, Defendant.

United States District Court, N.D. Illinois, Eastern Division.

December 22, 2000.


Attorney(s) appearing for the Case

David Thomas Beech Audley, Stacy Lee Prange, Chapman & Cutler, Chicago, IL, for Orix Real Estate Capital Markets, LLC.

Leann Pedersen Pope, Marjorie Golis Wilde, Burke, Warren, MacKay & Serritella, P.C., Chicago, IL, for Superior Bank. FSB.


MEMORANDUM OPINION AND ORDER

BUCKLO, District Judge.

Starting in 1994, ORIX Real Estate Capital Markets ("ORIX") invested in some subordinated securities based in pooled residential mortgage loans offered by Superior Bank ("Superior"). There were contracts or Pooling Service Agreements ("PSA") governing the purchase. ORIX alleges that, when 46 of the loans were liquidated as of the filing of the complaint, the mortgage pools securing these investments...

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