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HAPPY R SECURITIES v. AGRI-SOURCES, LLC

No. 3-12-0509.

988 N.E.2d 972 (2013)

2013 IL App (3d) 120509

370 Ill. Dec. 616

HAPPY R SECURITIES, LLC, an Illinois Limited Liability Corporation, Assignee of First State Bank of Illinois, Plaintiff and Counterdefendant-Appellant, v. AGRI-SOURCES, LLC; The Internal Revenue Service, The Department of the Treasury, United States of America; The Department of Revenue of the State of Illinois; Jefferson River Terminal, a Division of Consolidated Grain and Barge Company, a Missouri Corporation; Oquawka River Terminal, LLC; RYCO Distributing, Inc.; Country Mutual Insurance Company; and Unknown Owners and Nonrecord Claimants, Defendants (Oquawka River Terminal, LLC, an Illinois Limited Liability Company; and Robert W. Ryan, Jr., Jeffrey Butler, and David C. Jobe, Individually and as Members of Oquawka River Terminal, LLC, Counterplaintiffs-Appellees and Cross-Plaintiffs-Appellees; v. Kurt D. McChesney, Counterdefendant; Agri-Sources, LLC, Counterdefendant and Cross-Defendant).

Appellate Court of Illinois, Third District.

March 28, 2013.

Attorney(s) appearing for the Case

Timothy J. Howard (argued), Jeffrey G. Sorenson , Howard & Howard Attorneys PLLC, Peoria, for appellant.

Patrick M. Griffin (argued), Richard L. Williams , Griffin Villa Williams LLP, Geneva, for appellees.

OPINION

Justice CARTER delivered the judgment of the court, with opinion.

¶ 1 First State Bank of Illinois (FSBI) filed a foreclosure action against numerous defendants regarding a 20-acre parcel of commercial property in Gladstone, Illinois. FSBI later assigned its rights under the mortgage to Happy R Securities, LLC (HRS). Oquawka River Terminal, LLC (ORT), filed counterclaims and crossclaims for specific performance, breach of fiduciary duty, and...

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