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IN RE EQUIPMENT ACQUISITION RESOURCES INC.

No. 11-3905.

692 F.3d 558 (2012)

In re EQUIPMENT ACQUISITION RESOURCES INC., Debtor. First Premier Capital LLC n/k/a Commend Capital LLC, Appellant, v. Republic Bank of Chicago and William A. Brandt, Jr., acting solely in his capacity as Plan Administrator for Equipment Acquisition Resources Inc., Appellees.

United States Court of Appeals, Seventh Circuit.

Decided August 9, 2012.

Attorney(s) appearing for the Case

Alex Darcy (argued), Askounis & Darcy, P.C., Chicago, IL, for Appellant.

Edward P. Freud (argued), Attorney, Ruff, Weidenaar & Reidy, Chicago, IL, for Defendant-Appellee.

George P. Apostolides (argued), Attorney, Arnstein & Lehr LLP, Chicago, IL, for Trustee-Appellee.

Before CUDAHY, KANNE, and HAMILTON, Circuit Judges.

CUDAHY, Circuit Judge.

This is a case about the approval of a settlement plan that could potentially prejudice the litigation stance of a third party. Equipment Acquisition Resources, Inc. (EAR) was a corporation engaged in the sales and service of semiconductor manufacturing equipment. EAR defrauded various creditors in what was apparently a Ponzi scheme. The company's illegal activity included tricking banks into financing non-existent or grossly overvalued equipment...

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