Legal Opinion
Caterpillar Financial Services Corp. v. Peoples National Bank, N.A.
Court of Appeals for the Seventh Circuit
Decided March 4, 2013No. 12-2854PublishedCited by 9 opinions
1Opinion of the Court
POSNER, Circuit Judge.
This diversity suit governed by Illinois law pits the financing arm of Caterpillar, the well-known manufacturer of tractors and a variety of other industrial equipment (and much else besides), against Peoples National Bank, which operates in southern Illinois and eastern Missouri. Caterpillar accuses the bank of having converted the proceeds of sales of collateral to which Caterpillar had a secured claim superior to the bank’s secured claim. After a bench trial the district judge granted judgment for Caterpillar and awarded it damages of $2.4 million plus prejudgment…
2Cases cited22 opinions
- Santa's Best Craft, LLC v. St. Paul Fire & Marine InsuranceCourt of Appeals for the Seventh Circuit · 2010
- In the Matter of Bollinger Corporation, Bankrupt. Appeal of Carl L. Bigler, Trustee for Bollinger CorporationCourt of Appeals for the Third Circuit · 1980
- In the Matter of Numeric Corp., Bankrupt. Appeal of Russell E. BlankCourt of Appeals for the First Circuit · 1973
- In the Matter of Pubs, Inc. Of Champaign, Bankrupt. Appeal of Bank of Illinois in Champaign, ReclamationCourt of Appeals for the Seventh Circuit · 1980
- Empire Gas Corporation v. American Bakeries CompanyCourt of Appeals for the Seventh Circuit · 1988
17 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Charles E. Covey v. State Bank of ToulonCourt of Appeals for the Seventh Circuit · 2014
- Colon v. AshbyCourt of Appeals for the D.C. Circuit · 2018
- VCS, Inc. v. Countrywide Home Loans, Inc.Utah Supreme Court · 2015
- Co-Alliance, LLP v. Monticello Farm Service, Inc.Indiana Court of Appeals · 2014
- APCO CONSTRUCTION, INC. VS. DIST. CT. (SCOTT FINANCIAL)Nevada Supreme Court · 2015
4 more not listed; retrieve them via the Exa API.