Legal Opinion
Belofsky & Belofsky v. Leighton Holdings
Court of Appeals for the Seventh Circuit
Decided January 10, 2000No. 99-1749 and 99-1803PublishedCited by 1 opinion
1Opinion of the Court
EASTERBROOK, Circuit Judge.
When Kids Creek Partners entered bankruptcy, its only valuable asset was an option to acquire a 450-acre parcel of land at a bargain price. In November 1994 Kids Creek reached an agreement that would result in the profitable sale of one part of the parcel to the County of Grand Traverse, Michigan, and Munson Healthcare. The buyers threatened to call off the deal unless Kids Creek conveyed unencumbered title by the end of the year, which it could do only by persuading Leighton Holdings, Ltd., to release a mortgage Leighton held on the entire parcel. Leighton was…
2Cases cited12 opinions
- In the Matter of Met-L-Wood Corporation, Debtor. Appeal of Constantine John Gekas, Trustee. Constantine John Gekas, Trustee v. Frederick L. PipinCourt of Appeals for the Seventh Circuit · 1988
- In Re Samuel William SAX, Debtor, Appeal of THREE RIVERS MARINE SERVICE, INC.Court of Appeals for the Seventh Circuit · 1986
- In the Matter of MORSE ELECTRIC COMPANY, INC., Debtor. Appeal of HOOSIER FENCE COMPANY, INC.Court of Appeals for the Seventh Circuit · 1986
- Central States, Southeast and Southwest Areas Pension Fund v. Central Cartage Company and Central Transport, Inc.Court of Appeals for the Seventh Circuit · 1996
- Norman McMunn v. Hertz Equipment Rental Corporation, Third-Party-Plaintiff-Appellee v. Eichleay Corporation, Third-Party-Defendant-AppellantCourt of Appeals for the Third Circuit · 1986
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