Legal Opinion
Mitsui Taiyo Kobe Bank, Ltd. v. First National Realty & Development Co.
District Court, N.D. Illinois
Decided March 30, 1992No. 91 C 6629PublishedCited by 5 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
MORAN, Chief Judge.
Defendants in this action are guarantors of a loan made by plaintiff, Mitsui Taiyo Kobe Bank, Ltd. (MTKB), to finance a construction project in Merrillville, Indiana. MTKB brought this diversity action for payment on the guaranty and now defendants move for a dismissal or stay of plaintiff’s complaint pending resolution of a related foreclosure proceeding in an Indiana state court. For the reasons set forth below, defendants’ motion is denied.
BACKGROUND
On July 16, 1990, MTKB loaned $55,000,-000 to Bank One Merrillville, N.A. (Bank One), Lefkas General…
2Cases cited9 opinions
- Colorado River Water Conservation District v. United StatesSupreme Court of the United States · 1976
- Kerotest Manufacturing Co. v. C-O-Two Fire Equipment Co.Supreme Court of the United States · 1952
- Interstate Material Corporation, an Illinois Corporation, on Its Own Behalf and on Behalf of All Others Similarly Situated v. City of ChicagoCourt of Appeals for the Seventh Circuit · 1988
- James R. Laduke v. Burlington Northern Railroad CompanyCourt of Appeals for the Seventh Circuit · 1989
- Day v. Union Mines Inc.Court of Appeals for the Seventh Circuit · 1988
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3Cited by5 opinions
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