Legal Opinion
In the Matter Of: James E. Hovis and James E. Hovis Trust No. 90, Debtors-Appellants
Court of Appeals for the Seventh Circuit
Decided February 25, 2004No. 02-2450PublishedCited by 25 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
James Hovis borrowed more than $2 million from the National Bank & Trust Company of Sycamore. The debt was secured by pledged stock plus liens on other assets. Hovis repeatedly fell behind in repayment, and the Bank repeatedly agreed to extend and restructure the repayment schedule. When Hovis failed to meet the latest restructured schedule, and the market price of some stock pledged to secure the loan fell, the Bank attempted to foreclose. Before it could do so, however, Hovis commenced this federal bankruptcy proceeding, and the automatic stay blocked the…
2Cases cited7 opinions
- New Hampshire v. MaineSupreme Court of the United States · 2001
- Metropolitan Life Ins. v. Murel Holding Corp.Court of Appeals for the Second Circuit · 1935
- James W. Adair v. Michael L. Sherman and Sherman & ShermanCourt of Appeals for the Seventh Circuit · 2000
- 37 Collier bankr.cas.2d 1380, Bankr. L. Rep. P 77,400 D & K Properties Crystal Lake, an Illinois Partnership v. Mutual Life Insurance Company of New York, a New York CorporationCourt of Appeals for the Seventh Circuit · 1997
- Astor Chauffeured Limousine Co. v. Runnfeldt Investment Corp.Court of Appeals for the Seventh Circuit · 1990
2 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- In re Kmart Corp.Court of Appeals for the Seventh Circuit · 2004
- Jerry Summers, Individually and on Behalf of All Others Similarly Situated v. State Street Bank & Trust Company, and Ual Corporation Esop CommitteeCourt of Appeals for the Seventh Circuit · 2006
- Volling v. Antioch Rescue SquadDistrict Court, N.D. Illinois · 2013
- Hill v. Day (In Re Today's Destiny, Inc.)United States Bankruptcy Court, S.D. Texas · 2008
- Glenn v. Cavalry Investments LLC (In re Glenn)United States Bankruptcy Court, N.D. Illinois · 2016
20 more not listed; retrieve them via the Exa API.