Busey Bank v. Cosman

UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF ILLINOIS WESTERN DIVISION In re Timothy Cosman and ) Bankruptcy Case 16-81577 Rebecca L. Cosman, ) ) Debtors. ) ) ) Busey Bank, ) Adversary No. 17-96028 ) Plaintiff, ) Chapter 7 v. ) ) Judge Thomas M. Lynch Timothy Cosman, ) ) Defendant. ) MEMORANDUM OPINION In 2014 and 2015, Timothy Cosman (the “Debtor”) procured a variety of loans from Busey Bank (the “Bank”) in connection with his farming operation.1 These loans were not repaid and, on February 26, 2016, a judgment was entered in favor of the Bank and against the Debtor in the amount of…