Continental Illinois National Bank & Trust Co. of Chicago v. Allen

HOWE, Associate Chief Justice:

Continental Illinois National Bank and Trust Company of Chicago sought payment of a debt owed by a bankrupt limited partnership, Color Craft Press, Ltd. In the trial court, the Bank obtained judgment against defendant Kelvyn H. Cullimore, an officer of a corporation that was the general partner. He had personally guaranteed the debt. The Bank also obtained judgment against the other defendants, all limited partners who had agreed to pay up to 500 percent of their subscription amount toward the partnership debt. The trial court, however, refused the Bank judgment…