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HICKS v. MIDWEST TRANSIT, INC.

No. 05-4523.

500 F.3d 647 (2007)

Hal D. HICKS, Cross-Claim Plaintiff-Appellant, v. MIDWEST TRANSIT, INC., and Donald Hoagland, as Interim Receiver of Midwest Transit, Inc., Cross-Claim Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided September 10, 2007.

Attorney(s) appearing for the Case

Daniel T. Graham, Funkhouser Vegosen Liebman & Dunn, Chicago, IL, for Plaintiff.

John F. Theil (argued), Theil Law Firm, St. Louis, MO, Terrell L. Sharp (argued), Mt. Vernon, IL, for Defendants-Appellant-Appellees.

Before POSNER, RIPPLE, and SYKES, Circuit Judges.

SYKES, Circuit Judge.

Hal D. Hicks leased 100 mail-carrying trailers to Midwest Transit, Inc. ("Midwest") while he was the president, a director, and a majority shareholder of the company. Shortly thereafter a receiver was appointed by an Illinois state court to protect Midwest from various breaches of fiduciary duties alleged against Hicks in a shareholders' derivative lawsuit. The receiver refused to pay Hicks on the leases, arguing that they were invalid under...

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