Norman v. Kal

MEMORANDUM OPINION AND ORDER

McGARR, Chief Judge.

In 1974, an Illinois limited partnership was organized that included plaintiff Harold G. Norman (“Norman”) and defendant Darwin P. Kal (“Kal”) as limited partners, as well as two other general partners. At all relevant times, Norman was a Florida resident, while Kal resided in Illinois. The purpose of the partnership was to develop a residential apartment building. Financing for this project was provided by a Massachusetts trust company, which demanded a letter of credit from the partnership as a requirement for issuing the construction loan. A…