United States v. Thomas J. Rosby and John M. Franklin
Court of Appeals for the Seventh Circuit
1Opinion of the Court
EASTERBROOK, Circuit Judge.
Monon Corporation once was among the largest manufacturers of over-the-road semi-trailers, containers, and container chassis, producing about 150 units a day. Early in 1996, however, Monon’s principal customer cut back on orders and the lost business could not be replaced. Production fell to about 100 units a day in January 1996, dropping to 60 in April and 50 in August. This decline in sales produced a liquidity crisis, as the firm’s fixed obligations and payroll could not be cut as fast as the order book shriveled. Thomas Ros-by, Monon’s CEO and holder of 72% of…
2Cases cited31 opinions
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