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IN RE COMDISCO, INC.

Nos. 07-1474, 07-1484.

538 F.3d 647 (2008)

In re COMDISCO, INC. Appeals of Philip A. Hewes, et al.

United States Court of Appeals, Seventh Circuit.

Decided August 13, 2008.

Attorney(s) appearing for the Case

J. Michael Williams, Cohon, Raizes & Regal, Chicago, IL, for Philip A. Hewes.

John B. Alsterda (argued), Davis McGrath, Chicago, IL, Jonathan W. Young (argued), Wildman, Harrold, Allen & Dixon, Chicago, IL, for John W. Costello.

Felicia G. Perlman (argued), Skadden, Arps, Slate, Meagher & Flom, Chicago, IL, for Comdisco, Inc.

Carmen H. Lonstein, Baker & McKenzie, Chicago, IL, William R. Baldiga, Brown, Rudnick, Freed & Gesmer, Boston, MA, for Comdisco CDR Holders Amicus Curiae.

Before BAUER, ROVNER, and WOOD, Circuit Judges.

WOOD, Circuit Judge.

Philip Hewes, John Vosicky, Thomas Flohr, Jack Slevin, and a large group known as "Certain SIP Claimants" (collectively, "the Claimants") are former executives and high level employees of Comdisco, Inc. As part of a new shared investment plan sponsored by Comdisco, in 1998 they borrowed money from participating banks ("Lenders") to purchase shares of Comdisco. To secure the loans, they executed promissory notes in their personal capacity; Comdisco...

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