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HSBC BANK USA v. UNITED AIR LINES, INC.

Nos. 04 C 2836, 04 C 2837.

317 B.R. 335 (2004)

HSBC BANK USA, Appellant, v. UNITED AIR LINES, INC., Appellee. California Statewide Communities Development Authority, Appellant, v. United Air Lines, Inc., Appellee.

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

November 16, 2004.

Attorney(s) appearing for the Case

Mark F. Hebbeln, Gary W. Garner, Harold Kaplan, Gardner Carton & Douglas LLP, Chicago, IL, Kirk D. Dillman, James 0. Johnston, Joshua M. Mester, Hennigan, Bennett & Dorman, Los Angeles, CA, for Appellant.

James Howard Mandell Sprayregen, Marc Kieselstein, Todd A. Gale, Colby Anne Kingsbury, Kirkland & Ellis LLP, Chicago, IL, for Appellee.

Robert Dale Ginter, Downey Brand LLP, Sacramento, CA, for Defendant.

MEMORANDUM OPINION AND ORDER

DARRAH, District Judge.

This matter comes before the Court on the appeal of the judgment of the bankruptcy court of March 30, 2004, by HSBC Bank USA and California Statewide Communities Development Authority ("CSCDA"). For the reasons that follow, the decision of the bankruptcy court is reversed.

BACKGROUND

CSCDA is a joint exercise-of-powers government agency consisting of a number of California...

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