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CINCINNATI LIFE INS. CO. v. BEYRER

No. 12-2365.

722 F.3d 939 (2013)

CINCINNATI LIFE INSURANCE COMPANY, Plaintiff, v. Marjorie BEYRER, individually and as Executrix of the Estate of Kevin Beyrer, and Estate of Kevin Beyrer, Defendants-Cross-Plaintiffs-Third Party Plaintiffs-Appellants, v. Stanton W. Grotenhuis and Casey State Bank, Defendants-Cross-Defendants-Appellees, and Mark Savoree, Third Party Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 8, 2013.

Attorney(s) appearing for the Case

James H. Austen , Attorney, Starr, Austen & Miller, LLP Logansport, IN, for Plaintiff.

John Scaccia, Jr. (argued), Attorney, Scaccia & Associates, LLC, Dayton, OH, for Defendants-Cross-Plaintiffs-Third Party Plaintiffs-Appellants.

James R. Myers (argued), Attorney, Lefevre Oldfield Myers Apke & Payne Vandalia, IL, for Defendants-Cross-Defendants-Appellees.

Brent D. Holmes , Heath E. Uppencamp (argued), Attorneys, Heller, Holmes & Associates, Mattoon, IL, for Third Party Defendant-Appellee.

Before KANNE and WILLIAMS, Circuit Judges, and ZAGEL, District Judge.

KANNE, Circuit Judge.

In 2006, Kevin Beyrer ("Kevin") and his wife Marjorie Beyrer ("Marjorie") moved to Terre Haute, Indiana, to manage several car dealerships owned by Mark Savoree. The next year, Savoree proposed selling the dealerships to the Beyrers through a series of stock purchases to be financed by a $3.5 million loan from Casey State Bank ("CSB"). The Beyrers accepted and began the process of acquiring the dealerships. Soon after negotiating the loan with...

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