Legal Opinion
Commercial National Bank v. Federal Deposit Insurance
Appellate Court of Illinois
Decided April 3, 1985No. 3-84-0454PublishedCited by 15 opinions
1Opinion of the Court
PRESIDING JUSTICE HEIPLE
delivered the opinion of the court:
Commercial National Bank of Peoria (Commercial) recovered a judgment of $105,652.57 plus costs against the Federal Deposit Insurance Corporation (FDIC) based on loans fraudulently induced by Farmers State Bank of Lewistown (Farmers), for whom the FDIC is acting as receiver. The FDIC appeals and we affirm.
At all times relevant to the instant case, Commercial and Farmers had a longstanding correspondent banking relationship. As one service to its “country bank,” Commercial would provide participation and overline loans to customers of…
2Cases cited11 opinions
- Foutch v. O'BRYANTIllinois Supreme Court · 1984
- The People v. MontgomeryIllinois Supreme Court · 1971
- Rozny v. MarnulIllinois Supreme Court · 1969
- Soules v. General Motors Corp.Illinois Supreme Court · 1980
- Knowles v. PanopoulosIllinois Supreme Court · 1977
6 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Martin v. Heinold Commodities, Inc.Illinois Supreme Court · 1994
- Miller v. William Chevrolet/GEO, Inc.Appellate Court of Illinois · 2001
- General Motors Acceptance Corporation v. Central National Bank of MattoonCourt of Appeals for the Seventh Circuit · 1985
- Motorola Credit Corp. v. UzanDistrict Court, S.D. New York · 2003
- Midlantic National Bank North, N.A. v. Borg-Warner Acceptance Corp. (In Re Mayo)United States Bankruptcy Court, D. Vermont · 1990
10 more not listed; retrieve them via the Exa API.