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RINGGOLD CAPITAL IV, LLC v. FINLEY

docket No. 1-12-1702.

993 N.E.2d 541 (2013)

2013 IL App (1st) 121702

373 Ill. Dec. 235

RINGGOLD CAPITAL IV, LLC, as Assignee of Old Second National Bank, Plaintiff-Appellant, v. Michael FINLEY, Defendant-Appellee, (Attack Properties, LLC; Somercor 504, Inc.; United States Small Business Administration; A.T.T.A.C.K. Athletics, Inc.; Timothy S. Grover; Unknown Owners; and Nonrecord Claimants, Defendants.)

Appellate Court of Illinois, First District, Third Division.

June 19, 2013.

Attorney(s) appearing for the Case

Barack Ferrazzano Kirschbaum & Nagelberg LLP, of Chicago ( James R. Vogler , Brandon C. Prosansky , and John C. deMoulpied , of counsel), for appellant.

Greenberg Traurig, LLP, of Chicago ( Paul T. Fox and James P. Madigan , of counsel), for appellee.

OPINION

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

¶ 1 Old Second National Bank (the Bank) agreed to finance the construction of an $8.1 million athletic training facility to be developed by ATTACK Properties, LLC (Attack Properties or Borrower), Timothy Grover (Grover), and A.T.T.A.C.K. Athletics, Inc. (Attack Athletics), Attack Properties' parent company. The loan was secured by a mortgage and note along with unlimited guaranties...

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