Legal Opinion
First National Bank of Louisville v. Continental Illinois National Bank and Trust Company of Chicago
Court of Appeals for the First Circuit
Decided May 20, 1991No. 90-2494PublishedCited by 49 opinions
1Opinion of the Court
POSNER, Circuit Judge.
This is a contract dispute between two banks that participated in a joint lending arrangement of the kind known as a “participation agreement.” (It is in federal court under the diversity jurisdiction, and Illinois law governs the substantive issues by virtue of a choice of law clause in the contract.) In a typical such arrangement, one bank — the “lead bank” — first makes the loan agreement with the borrower and then makes a separate agreement — the participation agreement — with other banks, to which the lead bank sells shares in the loan (usually retaining a share for…
2Cases cited11 opinions
- Car Carriers, Inc. v. Ford Motor Company and Nu-Car Carriers, Inc.Court of Appeals for the Seventh Circuit · 1984
- Pelham v. GriesheimerIllinois Supreme Court · 1982
- American Hospital Supply Corp. v. Hospital Products Ltd.Court of Appeals for the Seventh Circuit · 1986
- United States Labor Party v. John J. Oremus, Individually and in His Capacity as President of the Village of BridgeviewCourt of Appeals for the Seventh Circuit · 1980
- Bennie Imogene Dunn v. Trans World Airlines, Inc.Court of Appeals for the Ninth Circuit · 1979
6 more not listed; retrieve them via the Exa API.
3Cited by49 opinions
- Vicom, Inc. v. Harbridge Merchant Services, Inc., as Successor in Interest to Peach Tree Bancard Corporation, Judy Elliot, James ElliotCourt of Appeals for the Seventh Circuit · 1994
- Market Street Associates Limited Partnership and William Orenstein v. Dale FreyCourt of Appeals for the Seventh Circuit · 1991
- Briehl v. General Motors CorporationCourt of Appeals for the Eighth Circuit · 1999
- Rene Rodriguez v. United StatesCourt of Appeals for the Seventh Circuit · 2002
- Paganis v. BlonsteinCourt of Appeals for the Seventh Circuit · 1993
44 more not listed; retrieve them via the Exa API.