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FIRST NATIONAL BANK, MANITOWOC v. CINCINNATI INS.

Nos. 05-4762, 06-1144, 06-2044.

485 F.3d 971 (2007)

FIRST NATIONAL BANK OF MANITOWOC, Plaintiff-Appellee/Cross-Appellant, v. CINCINNATI INSURANCE COMPANY, Defendant-Appellant/Cross-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided May 11, 2007.

Attorney(s) appearing for the Case

Nathaniel Cade, Jr. (argued), Michael Best & Friedrich, Milwaukee, WI, for Plaintiff-Appellee/Cross-Appellant.

Nancy K. Tordai, Victor C. Peters (argued), Hanson Peters Nye, Barrington, IL, for Defendant-Appellant/Cross-Appellee.

Before ROVNER, EVANS, and SYKES, Circuit Judges.

SYKES, Circuit Judge.

First National Bank of Manitowoc extended credit to a local used-car dealership based in part on the dealership's presentation of leases signed by its customers. Unbeknownst to the Bank, in many instances the dealership's president forged customers' signatures on leases that were fabricated or altered. The dealership eventually defaulted on the loans, and the Bank lost more than $1.7 million. The Bank...

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