Legal Opinion
Citizens Bank & Trust Co. v. Romano
District Court, N.D. Illinois
Decided February 15, 1977No. Nos. 76 B 2212, 76 B 2213PublishedCited by 2 opinions
1Opinion of the Court
MEMORANDUM OPINION
FLAUM, District Judge.
The sole issue before the court in these bankruptcy appeals is whether a beneficiary of an Illinois land trust is the “legal or equitable owner of real property or a chattel real” within the meaning of Chapter XII of the Bankruptcy Act § 406(6), 11 U.S.C. § 806(6). This is a question of first impression and the bankruptcy courts are in conflict over its resolution. In re Romano, Nos. 76 B 2212 and 76 B 2213 (Bkrcy.Ct.N.D.Ill. Sept. 28, 1976); In re Gordon, No. 76 B 5585 (Bkrcy.Ct.N.D.Ill. Nov. 3, 1976). For the reasons stated infra, this court holds…
2Cases cited33 opinions
- Segal v. RochelleSupreme Court of the United States · 1966
- Board of Trade of Chicago v. JohnsonSupreme Court of the United States · 1924
- Levine v. PascalAppellate Court of Illinois · 1968
- Fisher v. CushmanCourt of Appeals for the First Circuit · 1900
- Page v. EdmundsSupreme Court of the United States · 1903
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3Cited by2 opinions
- In Re RomanoDistrict Court, N.D. Illinois · 1977
- Citizens Bank and Trust Co. v. RomanoCourt of Appeals for the Seventh Circuit · 1980