Legal Opinion
Chicago Title & Trust Co. v. Telco Capital Corp.
Appellate Court of Illinois
Decided September 10, 1997No. 1-96-2257PublishedCited by 8 opinions
1Opinion of the CourtJustice Leavitt
In March 1981, Telco Capital Corporation (Telco) issued debentures in a principal amount exceeding $5.6 million. At that time, Telco and Chicago Title and Trust Company (CTT) executed an indenture pursuant to which CTT acted as trustee for the debenture holders’ benefit. The indenture was subject to the Trust Indenture Act of 1939. 15 U.S.C. § 77 aaa et seq. (1981).
On April 1, 1995, Telco owed CTT $207,342.98 in interest. The outstanding principal balance, at that time, was $2,256,790.76. Telco did not pay the interest then due. Pursuant to the indenture, CTT declared the principal due and…
2Cases cited4 opinions
- Demos v. National Bank of GreeceAppellate Court of Illinois · 1991
- Nutrasweet Co. v. American National Bank & Trust Co.Appellate Court of Illinois · 1994
- Upic & Co. v. Kinder-Care Learning Centers, Inc.District Court, S.D. New York · 1992
- First Illinois Bank & Trust v. GaluskaAppellate Court of Illinois · 1993
3Cited by8 opinions
- Bank of Commerce v. HoffmanCourt of Appeals for the Seventh Circuit · 2016
- Trade Center, Inc. v. Dominick's Finer Foods, Inc.Appellate Court of Illinois · 1999
- Bank of America, N.A. v. FreedAppellate Court of Illinois · 2012
- Sutter Insurance Company v. Applied Systems, Inc.Court of Appeals for the Seventh Circuit · 2004
- Bank of Commerce v. Fyre Lake Ventures, LLCDistrict Court, C.D. Illinois · 2015
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