Legal Opinion
Bonded Financial Services, Inc., Debtor-Appellant v. European American Bank
Court of Appeals for the Seventh Circuit
Decided February 12, 1988No. 87-1551PublishedCited by 486 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
Michael Ryan controlled a number of currency exchanges in Illinois. He also owned quite a few horses, doing business as Shamrock Hill Farm. Ryan had borrowed $655,000 from European American Bank to run this business. One of the currency exchanges, Bonded Financial Services, put $200,000 at Ryan’s disposal in January 1983. Bonded sent the Bank a check payable to the Bank’s order on January 21 with a note directing the Bank to “deposit this check into Mike[ Ryanj’s account.” The Bank did this. On January 31 Ryan instructed the Bank to debit the account $200,000 in…
2Cases cited24 opinions
- Matter of Cash Currency Exchange, Inc., Debtors. Cash Currency Exchange, Inc. v. Donald C. Shine, ReceiverCourt of Appeals for the Seventh Circuit · 1985
- United States v. Beverly J. Ramsey, Michael J. Marshall, Stuart A. McCreary and James Joseph O'DOnnellCourt 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
- Boston and Maine Corporation v. Chicago Pacific CorporationCourt of Appeals for the Seventh Circuit · 1986
- Anthony J. Bosco v. Robert B. SerhantCourt of Appeals for the Seventh Circuit · 1988
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3Cited by486 opinions
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- Central States, Southeast and Southwest Areas Pension Fund, a Pension Trust v. Gerber Truck Service, Inc.Court of Appeals for the Seventh Circuit · 1989
- Louis W. Levit, Trustee of V.N. Deprizio Construction Co. v. Ingersoll Rand Financial CorporationCourt of Appeals for the Seventh Circuit · 1989
- In Re Chase & Sanborn Corporation, Debtor. Paul C. Nordberg, Creditor Trustee v. Arab Banking CorporationCourt of Appeals for the Eleventh Circuit · 1990
- Sec. Investor Prot. Corp. v. Bernard L. Madoff Inv. Sec. LLCUnited States Bankruptcy Court, S.D. New York · 2018
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