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HELLER FINANCIAL v. PRUDENTIAL INS. CO. OF AMERICA

No. 03-3871.

371 F.3d 944 (2004)

HELLER FINANCIAL, INC., Plaintiff-Appellee, v. PRUDENTIAL INSURANCE COMPANY OF AMERICA, Defendant-Appellant, v. Key Corporate Capital, Inc., Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided June 14, 2004.

As Amended July 9, 2004.

Attorney(s) appearing for the Case

Christopher D. Liguori (argued), Jenner & Block, Chicago, IL, for Plaintiff-Appellee.

Brian W. Ellis (argued), Perkins Coie, James A. Niewiara, Quinlan & Carroll, Chicago, IL, for Defendant-Appellant.

Before BAUER, POSNER, and EASTERBROOK, Circuit Judges.

POSNER, Circuit Judge.

This interpleader action, in which the substantive issues are governed by Illinois law, turns on the interpretation of a loan agreement. The facts are not in dispute. In a nutshell: Heller agreed to lend American Paper Group, a manufacturer mainly of envelopes used for collecting donations at church services, up to $43 million, part in the form of term loans secured by APG's fixed assets and part in...

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