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ILLINOIS DEPT. OF REVENUE v. HANMI BANK

Nos. 17-1575, 17-2004.

895 F.3d 465 (2018)

ILLINOIS DEPARTMENT OF REVENUE, Appellant, v. HANMI BANK and Eugene Crane, Trustee, Appellees. Illinois Department of Revenue, Appellant, v. First Community Financial Bank, Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 9, 2018.

Attorney(s) appearing for the Case

James D. Newbold , Attorney, Office of the Attorney General, 100 W. Randolph Street, State of Illinois Center, Chicago, IL 60601-3218, for Appellant.

Jeffrey Dan , Attorney, Crane, Heyman, Simon, Welch & Clar, Suite 3705, 135 S. LaSalle Street, Chicago, IL 60603, for Appellee Eugene Crane, in his capacity as Chapter 7 Trustee of the estates of Elk Grove Village Petroleum LLC, Joliet Petroleum, LLC, Oswego Petroleum LLC, and Orland Park Petroleum, LLC.

Shelly Ann DeRousse , Attorney, Freeborn & Peters LLP, Suite 3000, 311 S. Wacker Drive, Chicago, IL 60606-0000, Appellee Hanmi Bank, formerly known as United Central Bank.

David J. Fischer , Attorney, Phillip W. Nelson , Attorney, Michael Kind , Attorney, Locke Lord LLP, Suite 3000, 111 S. Wacker Drive, Chicago, IL 60606-0000, for Appellee First Community Financial Bank.

Before Bauer, Flaum, and Rovner, Circuit Judges.

The bankrupt businesses in both of these consolidated appeals had debts that far exceeded the value of their assets. The bankruptcy court authorized the sale of the firms' principal assets (several gasoline service stations and a movie theater and café), and those sales qualified as bulk sales under Illinois statutes...

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