Legal Opinion
North Shore & Central Illinois Freight Co. v. American National Bank & Trust Co. of Chicago (In Re North Shore & Central Illinois Freight Co.)
United States Bankruptcy Court, N.D. Illinois
Decided June 8, 1983No. 19-05561PublishedCited by 21 opinions
1Opinion of the Court
MEMORANDUM OPINION
FREDERICK J. HERTZ, Bankruptcy Judge.
The issue presented in this cause of action concerns the right of a beneficiary to collect on an irrevocable letter of credit once a customer has filed a petition in bankruptcy.
On March 3,1981, North Shore & Central Illinois Freight Company (hereinafter referred to as the debtor), arranged for a $50,000.00 letter of credit (No. 201464) with American National Bank and Trust Company of Chicago (hereinafter referred to as “ANB”). The beneficiary of the letter of credit is Protective Insurance Company (hereinafter referred to as Protective).…
2Cases cited5 opinions
- Page v. First National Bank of MaryLand (In Re Page)District Court, District of Columbia · 1982
- In Re MJ Sales & Distributing Co., Inc.United States Bankruptcy Court, S.D. New York · 1982
- Globe Construction Co. v. Oklahoma City Housing AuthorityCourt of Appeals for the Tenth Circuit · 1978
- Twist Cap, Inc. v. Southeast Bank of Tampa (In Re Twist Cap, Inc.)United States Bankruptcy Court, M.D. Florida · 1979
- Printing Department, Inc. v. Xerox Corp. (In Re Printing Department, Inc.)United States Bankruptcy Court, E.D. Virginia · 1981
3Cited by21 opinions
- In the Matter of Compton Corp., Debtor. Walter Kellogg, Trustee v. Blue Quail Energy, Inc., and Mbank Abilene, N.A.Court of Appeals for the Fifth Circuit · 1988
- Braucher v. Continental Illinois National Bank & Trust Co. (In Re Illinois-California Express, Inc.)United States Bankruptcy Court, D. Colorado · 1985
- Ferrostaal Metals Corp. v. S.S. Lash PacificoDistrict Court, S.D. New York · 1987
- Lower Brule Construction Co. v. Sheesley's Plumbing & Heating Co.District Court, D. South Dakota · 1988
- ADMANCO, Inc. ex rel. Polsky v. 700 Stanton Drive, LLCWisconsin Supreme Court · 2010
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