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UNITED CENTRAL BANK v. DAVENPORT ESTATE LLC

No. 15-2406.

815 F.3d 315 (2016)

UNITED CENTRAL BANK, Counter-Defendant-Appellee, v. DAVENPORT ESTATE LLC, et al., Counter-Plaintiffs-Appellants.

United States Court of Appeals, Seventh Circuit.

Decided March 4, 2016.

Attorney(s) appearing for the Case

Andrew J. Abrams , Boodell & Domanskis, Chicago, IL, for Counter-Defendant-Appellee.

Maurice J. Salem , Law Offices of Salem & Associates, P.C., Palos Heights, IL, for Counter-Plaintiffs-Appellants.

Before BAUER, FLAUM, and HAMILTON, Circuit Judges.

In 2008, the predecessor to United Central Bank ("UCB") made a $700,000 loan to a group of investors.1 UCB and the investors agreed that the money would be placed in escrow but did not record their understanding in a written escrow agreement. Later, the investors repeatedly asked UCB for the $700...

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