IN RE DUBOFF

Bankruptcy No. 02-72335, Adversary No. 02-7157.

290 B.R. 652 (2003)

In re Michelle L. DUBOFF, Debtor. Singer Asset Finance Co., Plaintiff, v. Duboff Family Investments, David Duboff, Thomas E. Streder, Jr. Michelle L. Duboff, and National Bank of Dieterich, Defendants.

United States Bankruptcy Court, C.D. Illinois.

March 13, 2003.


Attorney(s) appearing for the Case

Francis J. Giganti, Springfield, IL, for debtor.

Ronald L. Pallmann, Clayton, MO, for David Duboff.

Bernard G. Segatto, III, Springfield, IL, Brian P. Mack, Chicago, IL, for Singer Asset Finance Co.

Bruce A. Burkey, Altamont, IL, for National Bank of Dieterich.

Mark T. Dunn, Bloomington, IL, for trustee.


OPINION

LARRY L. LESSEN, Bankruptcy Judge.

The issue before the Court is whether the pledge of a stream of lottery payments as collateral for a loan violates Section 13 of the Illinois Lottery Law and is therefore void.

On April 19, 1997, the Debtor, Michelle Duboff, and her estranged husband, David Duboff, won $14 million in the Illinois State Lottery Lotto. The Duboffs created The Duboff Family Investment Partnership on July 18, 1997, for the specific...

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