OLSEN v. FLOIT

No. 00-1107.

219 F.3d 655 (2000)

Joseph D. OLSEN, Trustee of Huntley Ready Mix, Inc., Plaintiff-Appellant, v. Gary A. FLOIT, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 14, 2000.


Attorney(s) appearing for the Case

Craig Willette (argued), Yalden & Olsen, Rockford, IL, for Appellant.

Richard G. Larsen (argued), Myler, Ruddy & McTavish, Aurora, IL, for appellee.

Before BAUER, EASTERBROOK, and MANION, Circuit Judges.


EASTERBROOK, Circuit Judge.

In May 1993 Huntley Ready Mix sold all of its operating assets for $151,000 to Harvard Ready Mix. This plus cash on hand was just enough to pay off Huntley's secured debt, which had been guaranteed by Gary Floit, Huntley's founder, president, and principal shareholder. Huntley retained its accounts receivable, eventually collecting and distributing about $100,000 to its general creditors, but another $200,000 or so remained. When Huntley...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases