Armour & Co. v. Mid-America Protein, Inc.

This action arises out of a mortgage foreclosure proceeding which resulted in the sale of the subject property and the entry of a personal deficiency decree and judgment.

On October 14, 1974, the plaintiff-mortgagee, Armour and Company (“Armour”), filed a complaint for the foreclosure of a mortgage against Mid-America Protein, Inc. (“MAP”), the mortgagor, and certain other defendants who were judgment creditors of the mortgagor. Among the judgment-creditors of MAP was the Schaub Engineering Company. Illinois Beef Packers, Inc. (“Illini”), purchased Schaub Engineering Company’s judgment against…