Tally Ho Associates, Inc. v. Worth Bank & Trust Co.

PRESIDING JUSTICE HOFFMAN

delivered the opinion of the court:

The plaintiff, Tally Ho Associates, Inc. (Tally Ho), was assigned the beneficial interest of a land trust as collateral for an installment note, but Edward Halleran, the debtor on the note, retained the power of direction. The defendant, Worth Bank & Trust Company (Worth Bank), was the trustee of the land trust. Tally Ho appeals from a judgment entered after a bench trial in favor of Worth Bank on Tally Ho’s complaint for breach of fiduciary duty and other similar claims. We consider: (1) whether it was against the manifest weight of…